Tracks the rise of most Gulf stock markets, the impact of oil and global markets

Most Gulf stocks rose yesterday following the example of oil prices and global stocks, after Federal Reserve Chairman Jerome Powell said the US Federal Reserve had expressed a lower-than-expected position on raising interest rates. Testimony in Congress.
Powell said during the congressional hearing that the US economy was bearing the brunt of the Covit-19 epidemic and was ready to tighten monetary policy.
According to Reuters, the Abu Dhabi Stock Exchange index rose 0.5 percent to 8,371 points, ending seven sessions with losses, while Etisalat Group’s rose 0.5 percent.
The Dubai Stock Exchange index closed at 3,208 points.
Oil prices, a strong driver of Gulf financial markets, tight distribution and a two-month high to ease fears of potential damage to demand from the Omicron expansion.
The Qatar Stock Exchange index was up 0.9 percent at 12,163 points, supported by a 2.5 per cent rise in Qatar National Bank, supported by credit growth after announcing a 10 per cent increase in annual net profit.
The Bahraini index is down 0.1 percent at 1,793 points. The Muscat index was up 0.8 percent at 4,258 points. The Kuwaiti index is up 0.85 percent at 7,938 points.
In Cairo, shares of Commercial International Bank rose 1.5 percent as the Egyptian stock market benchmark index rose 0.5 percent to close at 12,060 points.
Yesterday’s transactions recorded the purchases of Egyptian and Arab investment funds and companies, offset by sales of foreign investors and Egyptian and Arab individuals. The market capitalization of the shares of companies listed on the Egyptian Stock Exchange was 2 772.6 billion, with a total turnover of 5. 5.4 billion.

See also  Pressure on global supply chains eased in July
  • Nadia Barnett

    "Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

    Related Posts

    • Economy
    • November 2, 2024
    • 22 views
    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    The wealth management landscape is undergoing a dramatic transformation, fueled by the rise of financial technology (fintech), according to fintech entrepreneur Emils Kerimovs. No longer exclusive to the ultra-wealthy, innovative…

    UAE Powering Gaming Boom in the Middle East

    The gaming industry in the Middle East is experiencing a growth spurt, with Saudi Arabia and the United Arab Emirates (UAE) among the countries attracting major investments. However, this digital…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    How to Choose the Right Mattress: Find the Best Fit for You

    How to Choose the Right Mattress: Find the Best Fit for You

    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    Forex Brokers Review: Is ITBFX A Safe Broker?

    Forex Brokers Review: Is ITBFX A Safe Broker?

    Best Kitchen Renovation Ideas to Upgrade Your Space

    Best Kitchen Renovation Ideas to Upgrade Your Space

    Where to Get a Professional Massage in Dubai

    Where to Get a Professional Massage in Dubai

    Dog Spay Surgery 101: Benefits, Risks, Cost, and Aftercare

    Dog Spay Surgery 101: Benefits, Risks, Cost, and Aftercare