MIDEAST STOCKS-Oman leads Gulf higher; Saudi bucks regional strength - Reuters:
Most Gulf bourses ended higher on
Wednesday, with Oman leading the gains, as robust company
earnings and an ease in geopolitical tensions lifted sentiment,
although weakness in financial shares weighed on the Saudi
index.
Regional stocks had declined after the killing of an Iranian
commander by a U.S. drone strike and the launch of Iranian
missiles in retaliation, however, a de-escalation in tensions
has revived buying interest in Gulf equities.
Oman's blue-chip index, which traded after a
three-day break following the death of Sultan Qaboos bin Said,
advanced 1.6%, marking its biggest one-day gain this month.
Bank Muscat closed 2.8% higher, while Raysut
Cement rose 7.6%. Both of them reported a sharp rise
in their annual net profit.
No comments:
Post a Comment