MIDEAST STOCKS-Major Gulf markets gain; blue chips weigh on Egypt - Reuters:
Major Gulf stock markets closed up on
Thursday, moving in line with oil prices and global stocks,
while Egypt retreated as blue chips declined.
Oil prices rose to begin the new year on Thursday, buoyed by
signs of improving trade relations between the United States and
China, which eased concern over demand and rising tensions in
the Middle East.
U.S. President Donald Trump said on Tuesday that Phase 1 of
trade deal with China would be signed on Jan. 15 at the White
House, which is expected to reduce tariffs and boost Chinese
purchases of American farm, energy and manufactured goods.
In Saudi, the benchmark index rose 0.5%, led by a
1.1% gain in Al Rajhi Bank and a 0.6% increase in
Saudi British Bank. On Wednesday, the lender proposed
dividend for the second half of 2019.
No comments:
Post a Comment