Middle East Stocks, Equities News: Index for April 19, 2020 - Bloomberg:
Middle Eastern stocks rose on Sunday following a rally in emerging-market assets at the end of last week as the U.S. outlined steps to reopen its coronavirus-shuttered economy.
Israel’s TA-35 rose 3.5%, with Bank Hapoalim and Bank Leumi climbing more than 4% as of 11:15 a.m. local time, as the country eases its lockdown. Gauges in Dubai, Abu Dhabi, Bahrain, Saudi Arabia, Qatar and Kuwait advanced between 0.3% and 2.5%. MSCI Inc.’s index of developing-nation stocks strengthened 1.9% on Friday.
“Equity markets can expect an attempt to build on recent momentum into the new trading week, with optimism that progress is coming through on a coronavirus vaccine improving sentient,” said Jameel Ahmad, a markets analyst at FXTM in London. “However, in an unprecedented global pandemic investors will also be acutely aware that it is arguably too early for celebrations.”
Middle Eastern stocks rose on Sunday following a rally in emerging-market assets at the end of last week as the U.S. outlined steps to reopen its coronavirus-shuttered economy.
Israel’s TA-35 rose 3.5%, with Bank Hapoalim and Bank Leumi climbing more than 4% as of 11:15 a.m. local time, as the country eases its lockdown. Gauges in Dubai, Abu Dhabi, Bahrain, Saudi Arabia, Qatar and Kuwait advanced between 0.3% and 2.5%. MSCI Inc.’s index of developing-nation stocks strengthened 1.9% on Friday.
“Equity markets can expect an attempt to build on recent momentum into the new trading week, with optimism that progress is coming through on a coronavirus vaccine improving sentient,” said Jameel Ahmad, a markets analyst at FXTM in London. “However, in an unprecedented global pandemic investors will also be acutely aware that it is arguably too early for celebrations.”
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