MENA stock markets with the exception of the Dubai financial market

MENA stock markets with the exception of the Dubai financial market

June 16, 2018 Off By Yhumi Tsun

MENA stock markets ended today’s trading session in green territories with the exception of the Dubai financial market as the Saudi market was closed due Eid Al-Fitr holiday.

Bahrain’s stocks were trading higher in today’s session as the Bahraini All Shares Index added 0.89 percent or 11.5 points to end the trading session at 1,307.33 supported by gains in the financial sector.

moreover, Qatar’s stocks traded higher today ending five consecutive sessions of losses adding  0.19 percent to close the trading session in green at 9,097.91 supported by gains in the Consumer Non-Cyclicals and Energy sectors as both added around 2 percent

Qatar Gas Transport Co was the session’s top performer for the second session adding 3.23 percent followed by Qatar Navigation which added 3 percent.

In Oil space, Oil prices edged lower on Thursday’s session as the U.S. President Donald Trump said that oil prices are too high blaming OPEC, amid expectation that the group may relax its output cuts later this month.

Oil prices faced pressure from evidence of rising U.S. production and uncertainty regarding the outlook for supply before OPEC meeting next week.

WTI Oil July prices fell in today’s session to trade at 66.91 USD per barrel at 13:00 GMT. while Brent August futures were slightly higher on today session to settle at 76.51 USD per barrel at 13:00 GMT.


United Arab Emirates Stock Market:

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

The ADI general index ended the session significantly higher adding 1.76 percent to settle at 4,714.73 as gains in the Utilities and Telecommunications Services sectors which added 4.27 and 2.13 percent led the index higher.

In stock news, National Bank of Fujairah was the session’s best performer surging 15 percent followed by Abu Dhabi National Energy which added 4.27 percent.

In Dubai, the DFM General fell by 0.42 percent or 12.91 points to close at 3,038.23, pressured by losses in the Industrials sector.

Takaful Emarat Insurance was the worst performer during the session losing nearly 10 percent.

Egyptian Stock Market:

Egyptian shares ended today’s trading session higher; the EGX30 Index rose by 0.26 percent or 24.65 points to end the session at 16,220.93 The index saw a massive drop in the last month falling more than 2000 points.

In stock news Medinet, Qalaa Holdings was the session’s top gainer surging by 9.7 percent followed by Abu Qir Fertilizers and Chemical Industries Co which rose by 5.5 percent.