Mideast Stocks- Most major stocks rise in Mideast; Egypt falls

SectorFinancial Markets

Most major stock markets in the Middle East ended higher on Sunday, with Saudi leading gains on a rise in financial shares, while Egypt bucked the trend to close lower.By Thursday major Gulf markets had logged weekly gains following positive developments in a COVID-19 vaccine, which boosted hopes of a faster-than-expected global economic recovery.Official data showed on Sunday that Saudi Arabia's consumer price index increased by 5.8% in October compared with the same month last year, slightly above September's 5.7% rate.

ODubai's main share index added 0.3%, helped by a 1.5% rise in Emirates NBD Bank and a 1.8% gain in budget airliner Air Arabia.The Abu Dhabi index gained 0.3%, with the United Arab Emirates' largest lender First Abu Dhabi Bank rising 0.5%.Among gainers, Dana Gas was up 0.3%. On ...read more...