© Archyde.com. Traders during trading at the Abu Dhabi Stock Exchange in a photo from Archyde.com archive.
(Archyde.com) – Middle East markets were mixed at close on Thursday as the war in Ukraine kept investors on edge, stoking concerns about slowing growth and rising inflation.
It rose slightly to 121.95 a barrel as the US President met other Western leaders and investors waited to see how sanctions against Russia for its invasion of Ukraine would be tightened.
Attention has turned to a special NATO summit in Brussels on Thursday, in which US President Joe Biden is participating, to discuss further actions in response to the Russian invasion of Ukraine, which began a month ago and which Moscow describes as a “special military operation.”
“GCC stock markets have moved in different directions with global uncertainty impacting investor expectations while local events such as IPOs and strong fundamentals create a balance,” said Miguel Rodriguez, senior MENA markets analyst at Capix.com.
The main closed stable, as losses in financial companies wiped out the gains achieved by shares of raw materials companies.
Shares of Al Sagr Cooperative Insurance Company (SE:) rose 2.9 percent after the company reported a small annual loss.
It closed up 0.2%, while the main stock index in Dubai rose 0.5%.
Emirates NBD (DU:) led the gains.
The Qatari index rose 0.8 percent, the fourth consecutive session of gains.
Outside the Gulf region, the Egyptian stock index fell 0.3 percent.
(Prepared by Suha Jado for the Arabic Bulletin)
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.