Middle East Stock News: Latest for Sunday March 8, 2020 - Bloomberg:
Banking shares were the biggest drag on the benchmark indexes. In Riyadh, Al Rajhi Bank dropped as much as 8.2%. Emirates NBD PJSC, Dubai’s biggest lender, fell as much as 9.6%, while First Abu Dhabi Bank PJSC and National Bank of Kuwait SAKP dropped as much as 9.8% and 9.3%, respectively.
Banking shares were the biggest drag on the benchmark indexes. In Riyadh, Al Rajhi Bank dropped as much as 8.2%. Emirates NBD PJSC, Dubai’s biggest lender, fell as much as 9.6%, while First Abu Dhabi Bank PJSC and National Bank of Kuwait SAKP dropped as much as 9.8% and 9.3%, respectively.
- Saudi Arabia’s Tadawul index was back to the level of November 2017, before its inclusion in the emerging-market gauges compiled by MSCI Inc. and FTSE Russell.
- Dubai’s DFM General Index finished 7.9% lower, the biggest slide since October 2008. Real estate bellwether Emaar Properties fell 9.7% to the lowest since 2012.
- Kuwait’s main index extended losses this year to 18%, compared with a 32% gain in 2019 that was the best performance in the region.
- Indexes in Saudi Arabia, Dubai, Abu Dhabi, Kuwait, Bahrain, Qatar, Egypt and Israel all traded below a technical threshold that indicated they were oversold.
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