The rise of most of the Gulf stock exchanges with the recovery of oil .. and the “Egyptian” is declining


Most of the major Gulf stock exchanges rose yesterday, supported by the recovery of oil prices, but the Egyptian index bucked the general trend to close lower.
Brent crude futures rose 18 cents, or 0.25 percent, to $72.40 a barrel, to consolidate at just under a high not seen since May 2019.
According to “Reuters”, the Dubai index gained 0.4 percent to 2,842 points, led by a 1.1 percent rise for the emirate’s largest bank, Emirates NBD, and a 0.4 percent rise for Dubai Islamic Bank.
Abu Dhabi’s main index added 0.1 percent to 6,716 points, extending its gains for the fifth consecutive session, supported by a 0.4 percent rise in the International Holding Company and a 0.1 percent rise in First Abu Dhabi Bank. The Qatari index also rose 0.3 percent to 10,723 points, supported by the financial sector shares, while Qatar National Bank rose 1.7 percent and the petrochemical-producing “Industries Qatar” share advanced 0.8 percent.
The Bahrain index settled at 1546 points. The Muscat index rose 0.3 percent to 4,030 points. The Kuwait index settled at 6,847 points.
In Cairo, the main index of the Egyptian Stock Exchange closed down 0.6 percent to 9978 points, as the Commercial International Bank shares fell 1.7 percent and the Eastern Company’s shares fell 0.8 percent.
The market capital fell during yesterday’s session by 928.5 million pounds, to close at 642.997 billion pounds.
Arab and Egyptian investors’ transactions tended to buy with a net of 18.17 million pounds and 16.27 million pounds, respectively, while foreigners tended to sell with a net 34.44 million pounds.
During yesterday’s trading, the value of trading on listed shares amounted to 1.32 billion pounds, through 483.7 million shares, through 47.98 thousand deals.


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