Most Gulf Equity Markets Rally as Iran Risk Eases: Inside EM - Bloomberg:
Saudi Arabia led Middle Eastern equity markets higher on Sunday amid easing tension between the U.S. and Iran, reversing a negative trend that prevailed most of last week.
The Tadawul All Share Index gained as much as 0.7%, with about 90% of index members advancing and banks contributing the most to the increase. Benchmarks in Dubai, Abu Dhabi and Qatar also climbed.
Shares in the region caught up with an extension of gains for an index tracking emerging markets equities on Friday, as President Donald Trump backed away from the precipice of war with Iran following the Islamic Republic’s attacks on Iraqi bases where U.S. forces are stationed.
In Riyadh, the final size of Saudi Aramco’s initial public offering jumped to $29.4 billion one month after its debut as Goldman Sachs Group Inc., one of the underwriters, executed an over-allotment option on the shares.
Saudi Arabia led Middle Eastern equity markets higher on Sunday amid easing tension between the U.S. and Iran, reversing a negative trend that prevailed most of last week.
The Tadawul All Share Index gained as much as 0.7%, with about 90% of index members advancing and banks contributing the most to the increase. Benchmarks in Dubai, Abu Dhabi and Qatar also climbed.
Shares in the region caught up with an extension of gains for an index tracking emerging markets equities on Friday, as President Donald Trump backed away from the precipice of war with Iran following the Islamic Republic’s attacks on Iraqi bases where U.S. forces are stationed.
In Riyadh, the final size of Saudi Aramco’s initial public offering jumped to $29.4 billion one month after its debut as Goldman Sachs Group Inc., one of the underwriters, executed an over-allotment option on the shares.
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