Gulf bourses rise amid scramble for resources | Reuters
Markets in the Middle East rose on Thursday as investors chased resources-linked assets, with oil prices surging past levels last seen in Feb. 2013.
Brent crude topped $117 per barrel and is now up almost 20% on the week, while everything coal to natural gas and aluminium was also in high demand as Western nations tighten sanctions on Russia.
Asian shares eked out gains after reassuring comments from the Federal Reserve helped Wall Street bounce.
Russian troops were in the centre of the Ukrainian port of Kherson on Thursday after a day of conflicting claims over whether Moscow had captured a major urban centre for the first time in its eight-day invasion. read more
Energy-heavy Saudi Arabia's benchmark share index (.TASI) rose 0.7%, with gains driven by oil giant Saudi Aramco, which rose 3.4% to a record high of 44.5 riyals. (2222.SE).
Dubai's main index (.DFMGI) rose for the fifth consecutive session with gains of 0.9%. Dubai Islamic Bank (DISB.DU) was up 1.2% and Emaar Properties (EMAR.DU) trading 1.6% higher.
Abu Dhabi's index (.FTFADGI) was up 0.3%, while the Qatari index (.QSI) was flat.
No comments:
Post a Comment