MidEast Shares Mostly Rise

Middle East stocks mostly advanced, helped by firmer oil prices. Brent crude oil prices hit an 18-month high. Egypt also continued to benefit from foreign buying.

In company news, Union National Bank and Abu Dhabi Commercial Bank keep rising on speculation of a tie-up even though both companies previously denied one was coming.

Saudi Arabia’s main index inched up 0.1% to 7,251 points, Dubai jumped 1.8% to 3,602 points, Abu Dhabi added 1.2% to 4,590 points, Qatar rallied 1.6% to 10,600 points, Egypt rose 1.1% to 12,425 points, Kuwait was flat at 5,775 points, Oman gained 0.6% to 5,733 points and Bahrain shed 0.7% to 1,211 points.

Leave a Comment