09/02/2015
Collective rise in the GCC Market
«Dubai» consolidating the gains in anticipation of the results of the «real state »
Gulf stock marketsroseyesterdayafter oilmadenew gainsandlocal companiesannouncedthe resultsare encouragingin its entirety.
TheDubaimarketwas able toovercome thebanksunder pressureand checka rise of0.2 per centat3893.36points,supported bysectorreal estate, led byArabtec,wherewaiting forthe marketresults ofreal estate companiesleadinginthe forefront ofreconstruction andArabtecandDamac,theDAMAC Propertiesshares was oneof the biggestgainers,his rise5.8 per cent.
TheAbu Dhabiindexrose0.3 per cent,with a highershareNBAD1.8 per centandAbu Dhabi Commercial Bank2.1 per cent.Foodshareswas in therangeof 2.5percentafter the announcement of2014earningsgrowthof 22 per cent.Qatar's indexraised0.8 per centsupportEzdanHoldingshares,which rose3 per centandBarwa Real Estate,which rose4.3per cent.
Brent crudejumped2.2 per centto $57.80a barrel onFriday, its biggestincreaseintwo weeksto himfor over 17 yearsbecause of the lownumber ofoil rigsand violencein Libyaproducingore.
In Bahrain,the marketindex rose0.2percent to1438points,with direct support fromthe commercial banking sector, led bythe Bahrain National, as well asthe investment sector,where theclosedbankssector was up0.37percent,supported bygainsBahrain National,which camea lonelygreenbetweenbanksshares,an increase of1.77per cent, toclose at0.860dinars.
In Kuwait,the price indexrose0.8percent to6755points.TheMSMindexrose0.6percent to6725points.Egyptian marketfell0.1 per centwith the continueddecline inreal estatestocksafterstronggainsinthe past few weeks.Talaat Moustafahas fallen 2.4 per cent, trimminggainsthis yearto15.8per cent.
