The stock markets in the Gulf region closed today, Tuesday, recovering from global sales in the hope that the United States will be ready to negotiate some large customs duties on imports.
The Saudi standard index rose 1%, continuing the gains that it recorded in the previous session with the support of the arrow of Al -Rajhi Bank, which rose 1.9% and the share of (Alam), which jumped 4.7%.
On Sunday, the Saudi index fell 6.8%, recording its largest daily decrease since the first days, the Corona Shura in 2020.
Support levels
The market analyst for the Middle East and North Africa region, XTB, said that the Saudi Stock Exchange recovered for the second consecutive day after it found support levels.
“Nevertheless, a sustainable general recovery requires fundamental changes, especially with regard to the risks of customs duties and their potential economic impact,” he added.
The main index in Dubai increased 1.9%, supported by the rise of Emaar Real Estate 1.3% and Dubai Islamic Bank share 2.2%.
In Abu Dhabi, the index rose 0.5%.
Oil prices, and it is one of the stimulating factors for the financial markets in the Gulf region, but it has been near the lowest level in nearly 4 years due to fears of stagnation amid commercial conflicts, which overwhelmed the recovery in stock markets.
The index in Qatar increased by 1.3% with the rise of Qatar Islamic Bank shares 2.5% and the share of Qatar Petrochemical Industries 2.3%.
The main index in Bahrain closed, up 0.1% to 1899 points, and the main index in Oman concluded transactions at an altitude of 0.9% to 4261 points, and the main index in Kuwait jumped 3.1% to 8302 points.
Outside the Gulf region, the leadership stock index in Egypt increased 0.6%, with the arrow of the Eastern Company, Istren Compani, 7.1%.
The Egyptian Ministry of Transport announced that Egypt and France have signed an agreement worth 7 billion euros (7.66 billion dollars) to finance and operate a green hydrogen production facility.
