Gulf stock markets were mixed on Sunday after oil prices diverged while it remained unclear whether the truce in Yemen would be extended. Egypt's market extended losses on speculation that it might eventually lose emerging market status.
Most Gulf stock markets rose on Wednesday as Brent oil climbed above $69 per barrel for the first time this year, while Egypt's bourse pulled back after a rally.
Brent jumped more than 2 percent as a month-long rally gained fu
Major Gulf stock indexes are nearing technical resistance on their 200-day averages and strong trading volume suggests they may break above those levels, paving the way for long-term uptrends to resume.
The Gulf markets tumbled be
Gulf stock markets stabilised and some posted slight gains on Wednesday after suffering losses because of oil's renewed weakness earlier this week.
Brent futures have fallen more than 10 per cent this week to their lowest leve
Stock markets in the Middle East appeared to be stabilising in early trade on Monday after falling sharply in the previous session in a broad sell-off.
Bourses in the region posted their biggest losses in years on Sunday as global
As Saudi Arabia moves ahead with plans to open up the domestic capital markets to global investors, it is very likely that the kingdom will be seriously considered for an inclusion in various emerging markets indices, said an industry expert.
Global equity markets traded higher on Monday, although they pared gains from levels close to an all-time high, as low interest rates bolstered sentiment even as US Treasury yields rose.
Wall Street's benchmark S&P 500, wh
UAE's two bourses will resume trading on Monday after a four-day Eid al Adha holiday but activity is likely to be muted with all other Gulf markets still closed.
Dana Gas may see increased interest as its $1 billion Islamic bo
Egypt's bourse rallied for a fourth day on Thursday since Mohamed Mursi's presidential election victory, while most Gulf markets fell with investors cutting risk ahead of an EU meeting.
Egypt's main index rose 1.7 per cent, sta
Gold prices fell 1 percent on Monday, in line with the euro, stocks and other commodities, as worries over the euro zone debt crisis and the impact of high crude oil prices on the fledgling economic recovery fuelled risk aversion.