MIDEAST STOCKS-Egypt rises on foreign capital flows as most of Gulf gains - Reuters:
Egyptian blue chips rose on Wednesday, with foreign
investors net buyers and local investors net sellers. Most Gulf equity markets
also gained as oil prices rose.
Oil prices boosted markets, gaining nearly 2% on expectations that OPEC and
its allies would extend output cuts when they met in Vienna later this week.
In addition industry data showed the U.S. crude stockpile fell more
than forecast.
Egyptian blue-chip index snapped a three-session losing streak and
closed 1.2% up with Talaat Mostafa Group Holding rising 3.5%.
El Sewedy Electric added 1.4% after the government of South Sudan
awarded a contract worth about $45 million to build a hybrid solar project.
Qatar's index rose 0.8%. Qatar Islamic Bank gained 1.2% and
Industries Qatar 1.1%.
Egyptian blue chips rose on Wednesday, with foreign
investors net buyers and local investors net sellers. Most Gulf equity markets
also gained as oil prices rose.
Oil prices boosted markets, gaining nearly 2% on expectations that OPEC and
its allies would extend output cuts when they met in Vienna later this week.
In addition industry data showed the U.S. crude stockpile fell more
than forecast.
Egyptian blue-chip index snapped a three-session losing streak and
closed 1.2% up with Talaat Mostafa Group Holding rising 3.5%.
El Sewedy Electric added 1.4% after the government of South Sudan
awarded a contract worth about $45 million to build a hybrid solar project.
Qatar's index rose 0.8%. Qatar Islamic Bank gained 1.2% and
Industries Qatar 1.1%.
No comments:
Post a Comment