Most Gulf markets closed higher on Thursday amid rising oil prices, with Qatar outperforming as Doha Bank jumped after releasing a five-year plan.
Brent crude futures .LCOc1 were up 7 cents at $59.19 a barrel by 0939 GMT.
Doha Bank released a supplementary release to its full year earnings saying it has created a five years strategic plan to address challenging economic conditions.
The bank shed over 17% in its last three sessions, after its 2019 net profit dropped to 754 million riyals from 830 million riyals a year earlier.
Saudi Arabia’s benchmark index .TASI was up 0.5% as Al Rajhi Bank 1120.SE added 0.9% and Jabal Omar Development 4250.SE jumped 5.8%.
Oil giant Saudi Aramco 2222.SE ended up 0.8% at 33.65 riyals ($8.97).
Dubai’s index .DFMGI was up 0.4% with Emirates NBD Bank ENBD.DU rising 1.6% and Emirates Integrated Telecommunications DU.DU gaining 1.8%.
In Abu Dhabi, the index .ADI, however, closed 0.8% down, dragged by banking shares as First Abu Dhabi Bank FAB.AD lost 1.2% and Abu Dhabi Commercial Bank ADCB.AD shed 1.6%.
In Egypt, the blue-chip index .EGX30 edged up 0.2%. El Sewedy Electric SWDY.CA added rose 2.2% after it reported higher revenue in 2019 and proposed a per share dividend of 0.80 Egyptian pound.
Talaat Mostafa Group Holding TMGH.CA gained 1.8%. On Wednesday, the company said its unit will build a hotel with an investment cost of about 1.5 billion Egyptian pounds ($96.59 million) in partnership with Egyptian General Co For Tourism & Hotel.
On 4 February 2021, the 17th edition of the FIFA Club World Cup™ officially kicked off in Qatar, with…
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The Arab states of the Persian Gulf are the seven Arab states which border the Persian Gulf, namely Bahrain, Iraq, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE).This excludes the non-Arab state of Iran. All of these nations except Iraq are part of the Gulf Cooperation Council (GCC).
