Arab Today, arab today gulf stocks join global rally to cut heavy losses
Last Updated : GMT 05:41:04
Arab Today, arab today
Arab Today, arab today

Gulf stocks join global rally to cut heavy losses

Arab Today, arab today

Arab Today, arab today Gulf stocks join global rally to cut heavy losses

Saudi bourse
Kuwait City - AFP

Stock markets in the energy-rich Gulf states joined a global rally Thursday, reducing heavy losses from a tumultuous week that saw share prices dive.

With China a major regional trading partner and one of the most important buyers of Middle East crude, Gulf exchanges dropped heavily this week as oil prices hit new lows and Chinese economic troubles roiled international markets.

A recovery was underway as the local trading week ended on Thursday, but not all of the losses had been won back.

The Saudi bourse, the largest Arab capital market, rose 3.0 percent on Thursday but ended the week down 5.1 percent on 7,604.32 points.

The Dubai Financial Market Index rallied 4.03 percent to close on 3,648.45 points but remained 1.6 percent lower on the week.

The bourses of Qatar and Abu Dhabi each rose 3.0 percent Thursday recovering almost all the losses during the week.

The Kuwait bourse rose 1.1 percent on Thursday but was 2.9 percent down on the week. The Omani Securities Exchange was 4.5 percent lower than last week despite rising 0.6 percent on Thursday.

The Bahrain bourse was almost unchanged on Thursday and dropped 1.4 percent on the week.

Gulf stock markets began to slide in late July and the slump worsened in August, during which all seven bourses dropped below their closing figures at the end of 2014.

Saudi and Dubai stocks suffered the most, losing more than 20 percent over the month.

"Amidst a weak economic background both locally and internationally, bogged down by anaemic oil prices... the million dollar question that one may dare to ask is whether we have seen the worst," Kuwait's Global Investment House said in a research note.

 

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 stocks join global rally to cut heavy losses Arab Today, arab today gulf stocks join global rally to cut heavy losses

 



Arab Today, arab today

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 stocks join global rally to cut heavy losses Arab Today, arab today gulf stocks join global rally to cut heavy losses

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel 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