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FinancialNews


  • 01-08-22

    Gulf bourses close Sunday’s session with higher figure, Qatar end with highest gains

    (MENAFN) Majority of share markets in the Gulf closed up yesterday, with the Qatari index outperforming the district as it drew backing from increasing oil costs as well as robust company gains.

    Crude costs, a catalyst for the Gulf’s economic markets, grew over USD2 per barrel to stand at USD110.01 per barrel on Friday in advance of the coming week’s OPEC+ conference, sources state it is going to study leaving production unaffected.

    In Qatar, the index jumped 1.9 percent, with Qatar Islamic Bank adding 2.4 percent and Islamic lender Masraf Al Rayan ended 3.9 percent up.

    Between additional earners, Mekdam Holding climbed 3.6 percent, after reporting an increase in January- June period profit.

    Saudi Arabia’s main index gained 0.4 percent, directed by a 3.6 percent jump in petrochemical company Yansab. The kingdom’s gross domestic product increased by 11.8 percent in the April-June period in comparison with the same quarter last year, first government forecast discovered on Sunday, as the world’s highest oil exporter profits from greater energy costs.

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