Most of the stock markets in the Gulf region have concluded today’s trading, after US President Donald Trump said that he does not intend to isolate Jerome Powell, Chairman of the Federal Reserve (US Central Bank), and indicated the possibility of reducing customs duties imposed on China.
On Tuesday, Trump retreated from his threats to isolate Powell, days after he was extensive criticism of the Central Bank President for not reducing interest rates.
The president also affirmed that he wanted to conclude an agreement with China, the customs duties will not be close to him in any way, in any way, which is 145%, and said that he will determine the terms of the agreement if Beijing does not engage in talks.
The Saudi Stock Exchange index rose 0.8% at the end of trading, supported by the share of Aqua Power 3.6% and the share of the Saudi Telecom Company increased 2.5%.
Meanwhile, the International Monetary Fund reduced its forecast for the growth of GDP in Saudi Arabia in 2025, indicating challenges facing the wider region, including the gradual appeal to produce more oil.
Dubai Stock Exchange
The Dubai Stock Exchange index increased 1.4%, with the support of Emaar Real Estate, 3.6%.
Emirates NBD’s share increased 2.5%, continuing its gains for the third session.
Emirates NBD, the largest Dubai banks, announced a net profit of 6.2 billion dirhams (1.68 billion dollars) in the first quarter of the year, exceeding analysts’ expectations with profits of 5.1 billion dirhams (approximately $ 1.38 billion).
The share of the Emirates Integrated Communications Company (du) concluded today’s transactions, up 0.6%, and the company announced yesterday, Tuesday, the launch of a project worth two billion dirhams (544.5 million dollars) with the American company Microsoft to create a huge, high -performance data center.
The Abu Dhabi Stock Exchange index increased 0.7% upon closing.
The Qatar Stock Exchange index increased 1% with the rise of Qatar National Bank, the largest Gulf banks 0.9%.
Outside the Gulf region, the leadership stock index on the Egyptian Stock Exchange increased 2.6%, with most shares, including the share of the Commercial International Bank, which rose 2.9%.
