World Markets

MIDEAST STOCKS-Most Gulf markets rise; Egypt bourse eases

Credit: REUTERS/SATISH KUMAR

Most Gulf markets ended higher on Thursday, with financial shares boosting the Dubai index, while the Egyptian market was hurt by a selloff in blue-chip shares.

By Ateeq Shariff

Sept 17 (Reuters) - Most Gulf markets ended higher on Thursday, with financial shares boosting the Dubai index, while the Egyptian market was hurt by a selloff in blue-chip shares.

Saudi Arabia's benchmark index .TASI rose 0.3%, with oil giant Saudi Aramco 2222.SE gaining 1.1%, while Jabal Omar Development 4250.SE leapt 5.1%.

The kingdom's energy minister on Thursday said OPEC+ will complete all compensations for oil overproduction before the end of the year.

Dubai's main share index .DFMGI closed up 0.9%, led by a 1.9% rise in Emirates NBD Bank ENBD.DU and a 0.9% gain in sharia-compliant lender Dubai Islamic Bank DISB.DU.

Among others, logistic firm Aramex ARMX.DU advanced 2.4% after Abu Dhabi's state-backed firm ADQ acquired a 22% stake in the company.

The Abu Dhabi index .ADI edged up 0.1%, helped by a 1.3% increase in Emirates Telecommunications ETISALAT.AD.

Abu Dhabi National Oil Company (ADNOC) will reduce crude oil supplies to term buyers by 25% in November as part of its commitment to the OPEC+ deal, a notice seen by Reuters showed and sources with knowledge of the matter said.

Bahrain's index .BAX advanced 1.2%, extending gains from the previous session, after the Gulf state signed deals along with the United Arab Emirates on Tuesday to establish formal ties with Israel.

Outside the Gulf, Egypt's blue-chip index .EGX30 eased 0.3%, weighed down by a 0.9% fall in top lender Commercial International Bank COMI.CA.

SAUDI ARABIA

.TASI rose 0.3% to 8,338 points

ABU DHABI

.ADI added 0.1% to 4,511 points

DUBAI

.DFMGI rose 0.9% to 2,321 points

QATAR

.QSI was flat at 9,295 points

EGYPT

.EGX30 down 0.3% to 11,051 points

BAHRAIN

.BAX gained 1.2% to 1,435 points

OMAN

.MSI slipped 0.4% to 3,648 points

KUWAIT

.BKP was up 1.3% at 6,010 points

(Reporting by Ateeq Shariff in Bengaluru; Editing by Shailesh Kuber)

((AteeqUr.Shariff@thomsonreuters.com; +918061822788;))

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

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