MENA stock mostly in red while Abu Dhabi market which found support from properties stocks

MENA stock mostly in red while Abu Dhabi market which found support from properties stocks

June 11, 2018 Off By Yhumi Tsun

MENA stock markets ended today’s trading session mostly in red notes with the exception of Abu Dhabi market which found support from properties stocks.

Bahrain’s stocks were trading lower in today’s session as the Bahraini All Shares Index lost 0.25 percent or 3.188 points to end the trading session at 1,263.791 pressured by Consumer Cyclicals sector which fell by 2.67 percent.

Moreover, Qatar’s stocks traded lower today rising falling 0.92 percent to close the trading session in the red at 9,242.30 pressured by losses in the Energy and Telecommunications Services sectors as both fell by 3.4 and 2.12 percent.

In Oil space, Oil prices noted higher on Thursday’s session but remained near it two-month lows seen in Wednesday’s session pressured by concerns over a rise in U.S. oil inventories and record weekly domestic production.

The Energy Information Administration released its weekly data yesterday crude oil stockpiles rose by more than two million barrels which are significantly higher than expectations that shoed inventories dropping by 2 million barrels.

WTI Oil July prices rose in today’s session to trade at 65.29 USD per barrel at 12:00 GMT. Brent August futures rose on today session to settle at 76.06 USD per barrel at 12:00 GMT.

Saudi Stock Exchange:

Saudi Arabia stocks ended Thursday’s session in the red felling by 0.46 percent or 38.84 points to close at 8,344.39 pressured by losses in the Telecommunications Services and Consumer Non-Cyclicals sectors.

In stocks news, Allianz Saudi Fransi Cooperative Insurance Company was the worst performer in the session falling  4.6 percent followed by Saudi British Bank and Salama Cooperative Insurance which lost 3.56 and 2.9 percent respectively.

On the other hand, Middle East Paper was the sessions top performer adding 8.36 percent followed by Saudi Pharmaceutical Industries and Medical Appliances Corp which added 5 percent.


United Arab Emirates Stock Market:

United Arab Emirates markets ended Wednesday’s session in mixed territories.

The ADI general index rose by 0.22 percent or 10.46 points to close the trade at 4,662.58 supported by properties shares and gains in the healthcare sector which added nearly 3 percent.

In stock news, Ras Al Khaimah Poultry was the best performer in the session surging 11 percent followed by Ras Al Khaimah for White Cement and Construction Materials which added 9.8  percent.

In Dubai, the DFM General fell by 0.46 percent or 14.02 points to close at 3,041.74, pressured by Consumer Cyclicals sector.

Arabtec Holding as the top performer adding 4.3 percent followed by shuaa capital which added 1.82 percent.

Egyptian Stock Market:

Egyptian shares ended today’s trading session slightly higher after the index saw a massive drop in the last few sessions, The EGX30 Index rose by 0.09 percent or 14.75 points to end the session at 15,923.66.

Regarding stock news, Amer Group Holding was the session’s top gainer adding 3.33 percent followed by GB Auto which added 3.08 percent.