Arab Today, arab today gulf seen lower on weak global cues
Last Updated : GMT 18:17:19
Arab Today, arab today
Arab Today, arab today

Gulf seen lower on weak global cues

Arab Today, arab today

Arab Today, arab today Gulf seen lower on weak global cues

Abu Dhabi - Arabstoday

Gulf markets are likely to open lower on Sunday as dampening economic growth signaled from a recent slowdown in US hiring will weigh on sentiment, with added pressure from declines in world stocks over the weekend. Saudi Arabia\'s market, the only Gulf bourse trading on Saturday, felt the brunt of a weak global sentiment a day earlier, falling 1.3 percent to finish at its lowest in three weeks. Other local markets usually take cues from the kingdom. \"Unfortunately, we should have a similar slide across the region as we saw in global markets-the US jobs market put pressure on oil prices so I\'m not very optimistic today,\" says Sebastien Henin, portfolio manager at The National Investor. \"There is not much important happening on domestic side, so we will follow the international trend.\" Saudi Arabia ignored a survey report showing growth in business activity in the country\'s non-oil private sector jumped to a nine-month high in April, boosted by strong output and new orders. It\'s benchmark had rallied sharply earlier this year, backed by expectations of strong economic growth, and it still up 16 percent so far in 2012. Elsewhere, Dubai\'s index has weak technical support following six straight sessions of losses and breaking out of a sideways trend on Thursday. It closed at 1,582 points and analysts say it could drop to 1,500 points this week. In Qatar, the benchmark is down 1.2 percent year-to-date and recent trading activity has been muted. \"The market declined (in recent weeks) from 8875.35 points before finding support at 8627.77, the recent low,\" says Bruce Powers, head of research and analysis at Trust Securities. \"That support level is now important for the near-term as a break below will likely lead to even lower prices, down to at least 8544.18 points.\" Egypt\'s EFG Hermes said on Friday it had sealed an agreement first announced in March to form a region-wide investment bank with Qatar\'s Qinvest. Qinvest will control 60 percent of the new bank, which will be called EFG Hermes Qatar, and provide $250 million to increase its capital. EFG will recommend to its board a dividend of four Egyptian pounds per share to its shareholders, following closure of the transaction. Elsewhere, global stocks swooned and crude oil tumbled on Friday after a weak US jobs report and data that suggested a deeper recession across the euro zone than previously thought dented sentiment. Oil tumbled 2.5 percent on Friday, with U.S. crude below $100 a barrel for the first time since February.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gulf seen lower on weak global cues Arab Today, arab today gulf seen lower on weak global cues

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gulf seen lower on weak global cues Arab Today, arab today gulf seen lower on weak global cues

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today unveils Joon - the 'millenials' airline

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today US-made bomb used in fatal strike

GMT 10:16 2017 Saturday ,23 September

US-made bomb used in fatal strike
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 08:39 2017 Friday ,22 September

New Hurdles as Republicans Rush

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday