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Telecom stocks power UAE gains; Saudi declines

Telecom stocks power UAE gains; Saudi declines Reuters © Provided by Khaleej Times Telecom stocks power UAE gains; Saudi declines Markets in the UAE finished stronger on Tuesday, powered by the country s telecoms firms, which surged on the prospect non-UAE nationals shareholdings could rise. The Abu Dhabi benchmark firmed for a third straight session, ending 3.1 per cent higher, after finishing the previous session up about four per cent. The index was boosted by a roughly 15 per cent jump in Emirates Telecommunications (etisalat), the only telecom-focused stock in the benchmark. Etisalat saw its best day in nearly six years as the company called a board meeting for Wednesday to discuss increasing the foreign ownership limit in the firm.

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Egyptian shares gain, Gulf stocks mixed

Egyptian shares gain, Gulf stocks mixed
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.

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Major Gulf markets ease in early trade; Qatar rises

Major Gulf markets ease in early trade; Qatar rises SECTIONS Last Updated: Dec 15, 2020, 02:19 PM IST Share Synopsis Saudi Arabia s benchmark index slipped 0.1%, with Riyad Bank declining 1.2% and Jabal Omar Development dropping 1.8%. Getty Images Dubai s main shares index lost 0.5%, with its largest lender Emirates NBD Bank falling 0.9% and Emaar Properties losing 1.4%. Most major stock markets were subdued in early trade on Tuesday as oil prices weakened, while Qatar s index was supported by financial shares. Saudi Arabia s benchmark index slipped 0.1%, with Riyad Bank declining 1.2% and Jabal Omar Development dropping 1.8%. Oil prices, a key catalyst for Gulf markets, edged down as tighter lockdowns in Europe and an OPEC forecast for a slower recovery in demand next year outweighed relief from the roll-out of COVID-19 vaccines.

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