Page 7 - Deyaar Development News Today

UAE and other GCC stocks soared, driven by a combination of factors from fairly good-looking first-quarter numbers and Qatars foreign ownership limit removal to oil demand outlook and lower consumer inflation in Saudi Arabia. Dubai Financial Market scaled 2.5 per cent higher at 2,633 points, making for the second-sharpest single-day rise this year as Emaar Properties soared 6 per cent for its best performance year-to-date. The index was further boosted as the rally expanded to the rest of the p...

Saudi Arabian stocks extended their losses under selling pressure from banking blue-chips, while other GCC markets put on a lackluster performance ahead of first quarter earnings in the coming days. Saudi Arabian benchmark index traded lower by 0.3 per cent at 9,908 points in what was its third straight day of losses. Financial stocks weighed the index more than other sectors with Al Rajhi Bank, Banque Saudi Fransi and Arab Bank heading lower. Chubb Arabia Cooperative Insurance dipped after i...

Abu Dhabi and Dubai stocks ended the week on a high note with high-profile stocks leading, while petrochemical stocks pushed down the Saudi index ahead of an OPEC+ announcement on oil output guidance for the weeks ahead. Abu Dhabi Securities Exchange gained 0.5 per cent to 5,942 points in what was its fifth rise in as many days, which helped the index close out the best week in months with a 3.8 per cent gain. Gulf Pharmaceutical Industries advanced a further 2.5 per cent after posting massiv...

Other Gulf markets moved sideways as investors appeared lacking a clear direction

UAE and other Gulf seem to have regained some bullishness, with stocks advancing in early trade on Monday, closely tracking advances set by Asian peers and oil prices. At least, early on Monday, there is a sense of renewed optimism about the global growth. The UAE markets have won back most of the losses they suffered Sunday as they traded under pressure from heavy sell-offs hitting in world stock markets over the weekend. Abu Dhabi Securities Exchange climbed 0.8 per cent, bolstered mainly b...

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