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Middle East stocks: Most major Gulf markets rise; Dubai dips


2 Min Read
(Reuters) - Most Gulf markets ended higher on Tuesday, tracking global shares, as investors anticipated the U.S. Federal Reserve and other central banks meeting this week will keep policies accommodative to help drive a post-pandemic global economic recovery.
FILE PHOTO: The Dubai International Financial Market in Dubai, UAE February 7, 2018. REUTERS/Satish Kumar
MSCI’s All Country World Index, which tracks stocks across 49 countries, rose 0.3% to its highest since Feb. 22..
Saudi Arabia’s benchmark index rose 0.2%, with Saudi Kayan Petrochemical Company advancing 5.8%, while Banque Saudi Fransi gained 2.8%.
Elsewhere, Almarai also rose 1%. The Gulf’s largest dairy company said on Tuesday it had agreed to buy frozen bakery item producer Bakemart in the United Arab Emirates and Bahrain for an enterprise value of 93.5 million dirham ($25.46 million). ....

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