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Quarterly results of GCC banks record significant growth and support most stock indexes
The Kuwait Stock Exchange ended the week with a very limited loss of 0.05% to 2.57 points to close at 5210.85 points. I continue to earn a decimal percentage gain, the main market index lost half a point.
The GCC stock markets had a positive performance over the last week, ending mostly in green, with the exception of the Kuwait index which closed with a very limited loss of just 10 points, the Abu Dhabi index being the best. After gaining 1.8%, followed by Dubai with growth of 1.4%, the Qatar index gains 1.1%, the Saudi TASI adds 1%, Bahrain 0.7%, Percent, and the MSM index was the last winner with only a tenth of a percentage point
Positive Banks
UAE stock indexes rebounded after the fall of Abraaj Capital, most major institutions have revealed their lack of exposure to Abraaj Capital, as well as numerous announcements of the banking sector in Abu Dhabi and Dubai on the first half results. The Abu Dhabi index closed last week with solid gains on GCC's market indices, rising 1.8% to 83.08 points, confirming its security against Abraaj Capital. The banking sector, listed on the Dubai Financial Market (DFM), also recorded strong growth to support the performance of the index, which has declined over the past period, reducing its losses this year. year at 13%. After good growth of 1.4 percent, but remained the lowest level of 3,000 points, and closed at 2926.04 points, adding last week 41.82 points.
Qatar earnings
The Qatar market index also recorded a net growth of 1.1 percent, hitting its highest level this year, after its gains reached 10.8 percent this year. year to achieve After the stability of global market indicators and cohesion between the two largest components of the global economy, the United States and China, and the correlation between the statements and the war of words and the On some emerging market indicators, six Qatari banks completed their second quarterly results, all of which increased, but were lower than the growth of banks in the UAE and Kuwait, but were sufficient to lower market prices
] The performance of m The main market of Saudi Arabia (TASI) has reached the world oil price index in recent years, but recorded the last week a mixed performance with negative reports, the latest rise in US oil stocks relative to estimates, as well as rising US oil production. $ 11 million, pushing oil prices to a two-month low while Brent reached $ 70 a barrel, while Nymex fell to $ 67 a barrel, compared with 14 in the TASI quarterly index for the second quarter of this year, came with 9 companies posting gains and 5 companies losing ground. Gross profit growth was 9% .The new reports of JPMorgan's interest in bringing the GCC markets to their indexes of emerging markets increased the positive sentiment of some GCC markets, Including the TASI index, which reached a percentage point of 87.56 points last week, reaching 8420.67 points, reaching 17% this year, the highest gain of the Gulf this year.
Less earnings in Muscat and Manama
The MSM index experienced the weakest growth, after many hesitations and losses in recent weeks Omani companies have supplemented their information in the first half to record GCC's best information among the GCC's financial markets and sector performance, with banks being the best, while the industry and finance sectors focused on performance. Only to grow in the coming weeks, after reaching losses of 14% this year, and closed at the end of the week at 4448.28 points, adding 7.48 points.
The Bahrain Stock Exchange has benefited from the announcement of the intention of the banks of your home My family is united "with positive news thanks to its news of merger (19659004) After a long wait and many rumors, the intention of KFH-Kuwait and Ahli-Bahrain Consolidated Bank has been confirmed, Where the Kuwaiti Government and the Kuwaiti people hold an influential role, to open books in preparation for a merger between them, in a profit-taking state on the Kuwaiti stock market, which recorded a long marathon of gains over a short period of nearly a month, On the first market to come at the time of taking profit , what Bo has witnessed Over the last week, which ended with a very limited loss in the general market index, was 0.05%, or 2.57 points , to close at 5210.85 points, while the index of the first con market continues the green color, a decimal point of 8.54 points At the highest level since its launch at 5353.02 points, the main index lost half a percentage point, dropping 22.78 points to close at 4952 , 96 points.
The trading movement fell by nearly 35% on the level of activity, liquidity and number of transactions, Earnings, especially on some of the major shares, led the shares of the company. a
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