The rise of stock markets in the Gulf region

Posted by on May 06, 2014 | Leave a Comment

The rise of stock markets in the Gulf region

All stock markets rose in the Gulf region on Thursday, May 1 / May, led by the Saudi bourse, which has stepped up to the highest level in six years, boosted by gains for manufacturers of petrochemicals and cement. He added the main index of the Saudi market by 0.8 percent to 9660 points, the highest closing level since June 2008. Climbed company Saudi Basic Industries Corporation (SABIC) 2.6 percent, and was the main supporter of the index exceeded the average daily trading values. The Qatar Exchange index rose by 0.4 percent, supported by gains in shares of Industries Qatar, which rose 2.5 percent, extending a recovery after a wave of sales earlier this week triggered drop of 38 percent in the company’s net profit for the first quarter of the year. In Dubai, trading volume jumped 50 percent, with the rise of the market index up 0.4 percent, but the activity is still modest compared with most days in the past few weeks. The KSE index rose 0.3 percent, recovering from its lowest level in seven months earlier.

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