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Saudi Stocks Rise on Earnings Optimism: Inside EM
Bloomberg 2 hrs ago
Saudi Arabian stocks led gains in the Middle East as better-than-expected earnings fueled investor optimism and talks between Iran and the U.S. to end a years-long standoff progressed.
Share indexes in Dubai, Israel and Egypt also climbed while those in Abu Dhabi, Kuwait, Qatar and Oman fell. Bahrain’s index was little changed.
The recovery in corporate earnings comes at a time when renewed efforts to address long-standing regional enmities are lifting investor sentiment. World powers advanced efforts to revive a 2015 nuclear accord between Iran and the U.S. during weekend negotiations in Vienna. Meanwhile, senior officials from Saudi Arabia and Iran have been holding talks to repair relations between the two countries, the Financial Times reported.
Apr 18 2021, 8:03 PM
April 18 2021, 1:36 PM
April 18 2021, 8:03 PM
(Bloomberg)
(Bloomberg)
Saudi Arabian stocks led gains in the Gulf region as better-than-expected earnings fueled investor optimism and talks between Iran and the U.S. to end a years-long standoff progressed.
The benchmark Tadawul gauge rose as much as 0.8% before closing up 0.6% for its third consecutive advance. Share indexes in Dubai, Israel and Egypt also climbed, while those in Abu Dhabi, Kuwait, Qatar and Oman fell. Bahrainâs index was little changed.
The recovery in corporate earnings comes at a time when renewed efforts to address long-standing regional enmities are lifting investor sentiment. World powers advanced efforts to revive a 2015 nuclear accord between Iran and the U.S. during weekend negotiations in Vienna. Meanwhile, senior officials from Saudi Arabia and Iran have been holding talks to repair relations between the two countries, the Financial Times reported.