MIDEAST STOCKS-Most major Gulf markets gain in early trade; Saudi eases | Reuters:
Financial shares helped most major stock markets in the Gulf rise in early trade on Wednesday, while the Saudi index bucked the trend to trade lower.
Saudi Arabia’s benchmark index lost 0.2%, with Al Rajhi Bank dropping 0.5% and oil giant Saudi Aramco down 0.4%.
The kingdom postponed its fourth Future Investment Initiative conference to January 2021 from October this year, the organisers said on Tuesday, due to global travel issues related to the COVID-19 pandemic.
The biggest gainer on the benchmark index was Emaar The Economic City, up 8%, and is on course to extend gains to a second straight session.
On Tuesday, the developer entered a subscription agreement with Public Investment Fund (PIF), the kingdom’s main sovereign wealth fund. The completion of the deal is subject to several conditions.
No comments:
Post a Comment