Markets

MidEast Shares Mixed, Rising Brent Crude Prices Help

Middle East shares were mixed, with some gaining in step with rising crude prices while others reined in by global shares.

Brent oil rallied to above $59 per barrel after major producers said the global market was on its way to rebalancing.

Qatar's index rose again, buoyed by local and regional funds. However, other indexes fell as tensions between the United States and North Korea continue to escalate, with North Korea saying it believed U.S. President Donald Trump declared war on the country. Members of the Trump administration tried to talk down the rhetoric, denying Trump's tough talk was a declaration of war.

Saudi Arabia's main index inched up 0.2% to 7,240 points, Dubai slipped 0.2% to 3,561 points, Abu Dhabi firmed 0.07% to 4,414 points, Qatar jumped 1.4% to 8,569 points, Egypt gained 0.2% to 13,674 points, Kuwait eased 0.04% to 6,764 points, Bahrain shed 0.07% to 1,291 points and Oman dropped 0.3% to 5,114 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.


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

Other Topics

Stocks