Middle East Stocks Mostly Rise, Saudi Shares Boosted by Rising Oil Prices and Hopes for MSCI Inclusion Into Emerging Markets Index

Shutterstock photo

Midde East shares mostly advanced, with Saudi stocks benefiting from the oil and banking sectors and optimism among investors amid rising oil prices and MSCI's potential decision in June to include the kingdom in its emerging market index.

In company news, Saudi Basic Industries is set to go ex-dividend on Wednesday.

Arriyadh Development reported almost flat net profit for Q1.

Aldar Properties announced a 10 billion dirham ($2.7 billion) plan to enhance its Alghadeer project close to the Abu Dhabi-Dubai border.

Aramex traded ex-dividend.

GB Auto's board gave initial approval for a merger with R.G. Investment at book value.

Domty swung to a consolidated net profit in Q1 from a loss in the year-ago period.

Saudi Arabia's main index rose 0.6% to 8,096 points, Dubai slipped 0.3% to 3,131 points, Abu Dhabi gained 0.5% to 4,707 points, Qatar inched up 0.03% to 8,958 points, Kuwait firmed 0.1% to 4,782 points, Egypt jumped 1% to 17,802 points, Bahrain edged up 0.2% to 1,302 points and Oman advanced 0.1% to 4,769 points.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Stocks

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities

Research Brokers before you trade

Want to trade FX?