MIDEAST STOCKS-Aramco climbs as coronavirus restrictions eased - Agricultural Commodities - Reuters

MIDEAST STOCKS-Aramco climbs as coronavirus restrictions eased - Agricultural Commodities - Reuters:

Most bourses in the Middle East closed
higher on Sunday as some countries in the region eased their
coronavirus lockdown rules for the Muslim fasting month of
Ramadan, allowing more businesses to reopen and shortening
night-time curfews.

Saudi Arabia's benchmark index ended up 3.5%, with
Al Rajhi Bank and oil giant Saudi Aramco
both rising 3%.

Thob Al Aseel soared 10% after reporting an
increase in first-quarter profit.
Saudi Arabia's King Salman issued an order limiting the
curfew across the kingdom to 9 a.m. to 5 p.m. until May 13,
while keeping a 24-hour curfew in Mecca and in previously
isolated neighbourhoods, state news agency (SPA) reported on
Sunday.

The order also allowed the opening of some economic and
commercial activities, which includes wholesale and retail shops
in addition to malls, from April 29 to May 13.

In Dubai, the index advanced 3.5%, boosted by a
6.1% gain in blue-chip developer Emaar Properties and
a 4.5% rise in sharia-compliant lender Dubai Islamic Bank
.

Amongst others, budget airliner Air Arabia jumped 5.6%. On Thursday, the airline said its joint venture with Etihad Airways had received its air operating licence.

Dubai on Thursday allowed cafes and restaurants to resume business and shopping malls to be opened partially from midday until 10 p.m. with a maximum capacity of 30%.

Dubai is also going to allow public transportation services including subways to resume on April 26.

The Abu Dhabi index was up 2.9%, led by a 3.6% gain in top lender First Abu Dhabi Bank.

The United Arab Emirates has shortened a nationwide coronavirus curfew by two hours to 10 p.m. to 6 a.m. for Ramadan, state news agency WAM said on Thursday.