Major Gulf bourses were mixed on Thursday, with sentiment in Saudi Arabia and Qatar helped by a rise in oil prices.
Asian shares retreated as markets were spooked by more aggressive noises from U.S. policymakers about the need for tighter monetary policy, which also kept the dollar near a two-year peak. MKYTS/GLOB
Oil prices, on the other hand, rose after consuming nations announced a huge release of oil from emergency reserves, as worries over tight supplies still clouded the market outlook.
Saudi Arabia's benchmark index (.TASI) inched 0.2% higher, heading towards its fourth consecutive session of gains.
Shares of Yamama Cement Company (3020.SE) dropped 3% after the company began trading ex-dividend.
The Qatari index (.QSI) rose 0.5%, after ending the previous session 1.5% higher.
Financials and industrial stocks boosted the index.
In Dubai, the main share index (.DFMGI) edged up 0.1%, with investors taking a breather after last week's rally .
Dubai Electricity and Water is set to raise 22.32 billion dirhams ($6.1 billion) in the Gulf's biggest IPO since Saudi Aramco's record deal in 2019.
Emirates Refreshments (ERC.DU) continued its gains for a second session, jumping nearly 15%, a day after it sought shareholder approval to increase issued share capital to 330 million dirhams.
The Abu Dhabi index (.FTFADGI) was flat.
No comments:
Post a Comment