Sunday, 16 March 2025

Gulf Markets Continue Weekly Gains Amid Earnings Season and Federal Reserve Rate Cut Optimism

Most Gulf markets closed with collective weekly gains as investors anticipated second-quarter corporate results and grew optimistic about a potential Federal Reserve rate cut in September, CNBC reported.

The Saudi stock market index edged higher in Thursday’s session, marking its sixth consecutive daily gain with a turnover of 6.4 billion riyals. Out of 238 listed companies, 104 saw their stocks rise.

Leading stocks showed slight changes at the end of the week, ahead of financial results for the second quarter. Newly listed companies continued their upward trajectory, with Rasan, Miahona, and Talco shares gaining over 5%.

اقرأ المزيد

Jarir Marketing shares climbed by more than 1% after the company announced a 10% profit increase to 156 million riyals in the second quarter of 2024.

Throughout the week, the TASI index rose by 1.2%, reaching its highest weekly close in a month and a half at 11,792 points.

The Qatar Stock Exchange index gained 0.15% in Thursday’s session, closing at its highest level in three and a half months, buoyed by a more than 1% rise in Qatar Navigation’s stock.

Over the week, the Qatari index rose by 1%, achieving its sixth consecutive weekly gain.

The First Kuwait Index also advanced by 0.4% in Thursday’s session, marking its highest close in a month and a half, supported by KFH and Kuwait Real Estate shares, which rose by 0.4% and 2.6%, respectively.

For the week, the First Kuwait Index increased by 2%, recording the highest weekly gains in six months.

In the UAE, the FTSE ADX index maintained its consolidation path, ending the week with little change.

Meanwhile, the Dubai market index rose by 0.3%, closing above 4,100 points for the first time in two months. This was supported by gains in Air Arabia and Emirates NBD shares, which rose by 1.2% and 0.9%, respectively.

Over the week, the Dubai index increased by 0.8%, marking its sixth consecutive weekly gain and achieving its longest weekly rise in more than two years.

 

Related





Articles