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Gulf stock exchanges are recovering with the rise in oil prices and global markets

Gulf stock exchanges recovered yesterday, with the rise in oil prices and global stocks, while investors are waiting for more details to assess the extent of the risk of the new Corona mutant, “Omicron” to the global economy.
According to “Reuters”, the main index in Dubai closed up 1.8 percent, supported by a 4.6 percent increase in “Emaar Properties” shares, while Dubai Islamic Bank rose 2.1 percent. “Union Properties” increased 0.95 percent, “Shuaa Capital” 1.54 percent, and “GFH” 3.1 percent.
Shares in Dubai, the center of travel and tourism in the Middle East, plunged 5.2 percent yesterday, their biggest drop since March 2020.
In Abu Dhabi, the main stock index rose 2.2 percent to a record high, supported by a 5.8 percent jump in the shares of Etisalat Group. Abu Dhabi Islamic Bank shares rose 3.56 percent, Abu Dhabi Commercial 1.68 percent, Agthia Group 0.37 percent, Aldar Properties 2.25 percent, Alpha Abu Dhabi Holdings 2.56 percent, and Dana Gas 3.92 percent. per cent, and First Abu Dhabi Bank 0.53 per cent.
On the Doha Stock Exchange, the benchmark index of Qatari shares closed up 0.1 percent, with the shares of “Industry Qatar” rising 1.3 percent.
The Bahrain index rose 0.5 percent to 1754 points. The Muscat index rose 0.3 percent to 4,118 points. The Kuwait index rose 0.5 percent to 7,550 points.
In Cairo, the leading stock index in the Egyptian Stock Exchange fell 0.6 percent, affected by the decline in the share of Eastern Tobacco Company by 10.1 percent, after the traded shares lost the right to dividends.
The market capital rose during yesterday’s session by 884 million pounds, to close at 715.160 billion pounds.
Egyptians’ transactions tended to buy, net of 85.05 million pounds, while Arabs and foreigners’ transactions tended to sell, nets 17.3 million pounds and 67.74 million pounds, respectively.
During yesterday’s trading, the value of trading on listed shares amounted to 954.68 million pounds, through 408.03 million shares, through 44.11 thousand deals.

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