Connect with us

Hi, what are you looking for?

Markets

Major Gulf markets rise in early trade

Major stock markets in the Gulf rose early on Sunday, lifted by gains in their banking shares, with the Saudi index leading the way.

For the latest headlines, follow our Google News channel online or via the app.

The kingdom’s food and drug administration has approved the COVID-19 vaccine made by AstraZeneca, Reuters reported on Thursday, citing state TV.

The benchmark index in Saudi Arabia traded 0.5 percent higher, on course to end two sessions of losses.

Al Rajhi Bank rose 0.6 percent, while Banque Saudi Fransi jumped 3.1 percent.

Dubai’s main share index rose 0.3 percent, with its largest lender Emirates NBD gaining 0.4 percent, and DAMAC Properties advancing 1.6 percent.

In Abu Dhabi, the index added 0.2 percent, helped by a 0.3 percent gain in the United Arab Emirates’ largest lender First Abu Dhabi Bank.

Meanwhile, sovereign wealth and public pension funds are bolstering their funding of private debt, with close to $9 billion committed since the COVID-19 crisis as they hunt for yield and their ample liquidity allows them to take on more risk than banks.

The Qatari index was up 0.3 percent, led by gains in financial shares, with top lender Qatar National Bank rising 1.9 percent.

Next articles

Sudan’s central bank unifies currency in latest move aimed at reforming economy

The signs highlighting the short-term struggles Dubai’s tourism industry faces

G7 leaders pledge continued fiscal support for economies

 

 

You May Also Like

World

Germany’s vaccine commission, known as STIKO, recommended on Thursday that people under 60-years old who have had a first shot of AstraZeneca’s COVID-19 vaccine...

World

Officials from Iran, China, Russia, France, Germany and UK will meet virtually on Friday to discuss a possible return of the US to the...

Life Style

An uncrewed SpaceX Starship prototype rocket failed to land safely on Tuesday after a test launch from Boca Chica, Texas, and engineers were investigating,...

Energy

United Arab Emirates power producer Abu Dhabi National Energy Co. (TAQA) announced on Wednesday plans to increase its renewable energyassets, in a shift away...

Advertisement

error: