Dubai Financial Market Index records highest weekly gains in two months
FTSE Abu Dhabi posts highest weekly gain in a month and a half
Qatar Stock Exchange Index records first weekly gains in a month
Kuwait's first index records highest weekly gains in about 3 months
Egypt's 70s Index Declines for Fourth Week in a Row
Saudi market:
The main market index fell by 1.4% in Thursday's session, recording the largest daily loss in 3 weeks, amid liquidity of 7.3 billion riyals and with 184 shares out of 234 listed companies declining.
The pressure came mainly from ACWA Power's share price falling by more than 7%, recording its biggest daily loss in two years.
ACWA Power announced after the session that its revenues decreased by 6% in the first quarter of this year, while its profits grew by 10% to 296 million riyals.
Aramco shares also fell 0.3% to close at their lowest level in about a year, despite the oil giant announcing on Tuesday a better-than-expected profit of 103 billion riyals in the first quarter.
Over the course of the week, the Saudi index fell by 0.55% in the week ending May 9 after rising by 0.8% in the previous week.
Egyptian Stock Exchange:
Egyptian indices closed with collective gains on Thursday, with market value rising to EGP 1.76 trillion amid liquidity of EGP 2.8 billion.
The 30-share index rose by 0.05% to close above 26,000 points, supported by the rise in Abu Qir Fertilizers and Eastern Tobacco shares by 3.1% and 1.9%, respectively.
The 70s index also rose by 0.1% to close at 5,758 points.
Thursday's session data showed that Egyptians recorded a net purchase of EGP 271 million, compared to net sales by foreigners and Arabs of EGP 195 and EGP 76 million, respectively.
Over the week, the 30s index fell by 0.4% and the 70s index fell by 0.7%, recording its fourth consecutive weekly loss.
Gulf markets:
Gulf stock markets closed mixed on the last trading day of the week as companies continued to report quarterly results and oil prices volatility continued.
Qatar's index rose 0.1%, rebounding slightly from a 6-month low, supported by a 3% and 4.5% rise in shares of Navigation and Nakilat, respectively.
Nakilat, the world's largest LNG fleet operator and owned by Qatar Energy, signed a long-term agreement on Wednesday to charter and operate nine LNG vessels.
Over the week, the Qatari index rose by 0.2%, recording its first weekly gain in a month.
The Kuwait First Index also rose by 0.35%, supported by the rise in the shares of KFH and Industries by 1.2% and 3.2%, respectively.
Over the week, the first index rose by 0.9%, recording its highest weekly gain in nearly 3 months.
In the UAE markets, the Dubai Financial Market index closed flat on Friday amid weak liquidity, but it rose by about 0.9% during the week, recording its highest weekly gains in two months.
During the week, the Dubai market witnessed the start of trading in Spinneys shares, as the second listing on the market in 2024.
The FTSE Abu Dhabi index also rose by about 0.6% during the week, recording its highest weekly gain in a month and a half.
