2023-08-02 10:23:03
The Dubai Stock Exchange rose to the highest level in eight years, at the end of trading on Wednesday, while the Saudi Stock Exchange continued its losses, with the continuation of a wave of profit-taking, in the wake of the index reaching its highest level in nine months last week.
The Saudi index fell 0.8 percent and is on its way to continue losses for the fourth consecutive session, under pressure from the 1.5 percent decline in Al Rajhi Bank.
The share of the National Bank of Saudi Arabia also fell 1.9 percent, with the trading of shares of the largest bank in the Kingdom following the expiration of the right to distribute cash dividends.
Dubai’s main index rose 0.2 percent, with blue chip developer Emaar Properties rising 1.1 percent.
In Qatar, the index fell 0.8 percent, and thus is heading to end a 15-day series of gains, with most of the stocks listed on the index falling into the negative zone, including Qatar National Bank, whose share fell 0.6 percent.
The Abu Dhabi index rose 0.3 percent, with Emirates Telecommunications Group (E&) rising 0.6 percent following it announced an increase in second-quarter profit.
The Czech BPF group said on Tuesday that the Emirates Telecommunications Group (E&) will pay 2.2 billion euros in advance to acquire a controlling stake in its telecom assets in Bulgaria, Hungary, Serbia and Slovakia.
Oil prices, a major catalyst for financial markets in the Gulf, rose nearly 1 percent and were trading near their highest level since April following data on inventories of crude and fuel products showed strong demand from the United States, the world’s largest fuel consumer, offsetting demand concerns from other regions. .
1690972641
#Dubai #Stock #Exchange #rose #highest #level #years
