Kuwait’s benchmark stock index traded at a record high for a fourth session after oil posted the biggest weekly gain in over a year. Equities in Saudi Arabia, Abu Dhabi and Oman also rose.
MIDDLE EASTERN MARKETS:
- Kuwait’s Premier Market Index rises 0.5% at 11:24 a.m. local time
- Kuwait Finance House +1.2%; Zain +1%; Ahli United Bank +0.7%
- Banking shares have been leading the gauge’s 4.5% rally in August
- Abu Dhabi’s ADX General Index rises as much as 0.3%, snapping a three-day loss
- Al Waha Capital +3.9%; Aldar Properties +1.5%; Etisalat -0.9%, International Holding -0.3%
- International Holding unit Al Seer Marine Supplies & Equipment listed in Abu Dhabi on Sunday, opening at 13 dirhams before rising to as high as 15 dirhams
- Saudi Arabia’s Tadawul All Share Index climbs as much as 0.4%, driven by gains in Al Rajhi Bank and Saudi National Bank
- Dubai’s benchmark DFM General Index rises as much as 0.3% before trading little changed at 11:51a.m. in Dubai
- Qatar Exchange Index drops for a third day after reaching the highest level since August 2016 on Tuesday
- Qatar National Bank -1%; Qatar Islamic Bank -0.8%; Commercial Bank of Qatar -0.4%
- Shares in Tel Aviv rise after U.S. stocks rose on Friday over the Federal Reserve chairman’s dovish tone about tapering
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