Most Gulf shares rebound; DEWA extends gains from strong debut | Reuters
Major Gulf bourses rose on Wednesday, with global investors relieved as U.S. inflation data was not as bad as feared and oil prices eased.
U.S. monthly consumer prices increased by the most in 16-1/2 years in March as war in Ukraine boosted the cost of gasoline to record highs, cementing the case for a 50 basis point interest rate hike from the Federal Reserve next month. read more
Russian President Vladimir Putin said that on-and-off peace negotiations with Ukraine "have again returned to a dead-end situation for us", while U.S. President Joe Biden said for the first time that Moscow's invasion of Ukraine amounts to genocide. read more
Asian shares and U.S. futures rose, but gains were capped by higher oil and commodity prices.
Dubai's main share index (.DFMGI) advanced 0.3% with shares of Dewa Electricity and Water Authority (DEWAA.DU) up 0.7% on their second day on the stock exchange.
The stock's stellar debut valued it at 149 billion dirhams ($40.57 billion) on Tuesday and is expected to heat up Dubai's IPO pipeline. read more
Saudi Arabia's benchmark index (.TASI) edged up marginally, headed for its eighth session of gains as financials boosted sentiment.
Alaseel (4012.SE) and Arab Bank (1080.SE) were among the top percentage losers with their nearly 2% fall after both stocks began trading ex-dividend.
In Abu Dhabi (.FTFADGI), the index was flat.
The Qatari index (.QSI) rose 0.7% and has gained for seven of the previous eight sessions.
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