Stock markets in the Gulf region closed Thursday, although most of them rose despite weekly losses, including… Geopolitical tensions In the sector, traders are waiting for economic data looking for signs on the course of monetary policy in the United States.
And raised Leader killed Senior soldier in the Lebanese Hezbollah group and head of the political bureau of the Palestinian Islamic Resistance Movement (Hamas) A response from Iran is feared The potential impact on Israel, which has increased concerns about oil supplies from the world’s largest oil producing region. Ismail Haniyeh, the head of Hamas’s political bureau, was assassinated in the Iranian capital, Tehran, last week in an attack that raised fears of a violent response, and reinforced fears that the war on Gaza could turn into a war big in the country. area
The Saudi index fell 0.5%, with Al-Tayseer Group for Aluminum Products Manufacturing shares falling 1.3% and Aqua Power shares falling 1.7%. The Saudi index recorded a weekly loss of 3.1%. The Dubai index was little changed at the close of trade on Thursday, but Emaar Properties shares are up 1.1% after announcing an increase in net profit in the first half of this year. The Abu Dhabi index rose 0.8%, led by International Holding Company, which gained 1.2%.
After-hours trading in the sector, data showed a decline in the number of Americans who applied for new unemployment benefits to a level adjusted for seasonal factors at 233,000, for the week ending on August 3. Economists, in a Reuters poll, had expected 240,000 applications to be filed last week.
The data gained particular importance after weak earnings data caused widespread turmoil in the markets on Monday. According to the Chicago Mercantile Exchange’s US Federal Reserve survey tool, markets expect a 72% cut in US interest rates by 50 basis points in September, compared to 70% on Monday. The countries of the Gulf Cooperation Council are usually guided in their monetary policies by the actions of the Federal Reserve, since most of their currencies are linked to the dollar.
The Qatari index fell 0.2%, with Qatar Islamic Bank losing 0.5%, while Egypt’s main stock index rose 0.4%, led by Ezz Steel, which rose 2.3%.
(Reuters, Al-Arabi Al-Jadeed)
2024-08-08 16:58:08
#Arab #stock #exchanges #recover #losses #recovery #global #financial #markets
