|
{"source_url": "https://www.nasdaq.com", "url": "https://www.nasdaq.com/articles/mideast-stocks-dubai-outperforms-major-gulf-bourses-in-2019-oman-remains-pressured-2019-12", "title": "MIDEAST STOCKS-Dubai outperforms major Gulf bourses in 2019; Oman remains pressured", "top_image": "https://www.nasdaq.com/sites/acquia.prod/files/2019-12-30T090123Z_1_DS1_RTRLXPP_2_LYNXPACKAGER.JPG", "meta_img": "https://www.nasdaq.com/sites/acquia.prod/files/2019-12-30T090123Z_1_DS1_RTRLXPP_2_LYNXPACKAGER.JPG", "images": ["https://www.nasdaq.com/themes/nsdq/dist/assets/images/logo.svg", "data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7", "https://www.nasdaq.com/themes/nsdq/dist/assets/images/logo-half-white.svg", "https://www.nasdaq.com/themes/nsdq/dist/assets/images/bg-texture--geometric--mobile.png", "https://www.nasdaq.com/sites/acquia.prod/files/2019-12-30T090123Z_1_DS1_RTRLXPP_2_LYNXPACKAGER.JPG"], "movies": [], "text": "By Ateeq Shariff\n\nDec 31 (Reuters) - Dubai's index ended the year up more than 9%, outperforming other major Gulf markets, while Kuwait led the region with a 32% gain and Oman fell for a third year in a row.\n\nDubai .DFMGI dropped 0.2% on Tuesday as Dubai Islamic Bank DISB.DU lost 0.7% and Emirates NBD ENBD.DU slipped 0.4%, but it closed 9.3% up over the year, despite slumping real estate prices.\n\nSaudi Arabia .TASI rose 0.5%, bringing its annual gains to 7.2%. Riyad Bank 1010.SE added 2% on Tuesday, while Aramco 2222.SE rose 0.3%, at 35.3 riyals.\n\nOil giant Aramco commenced trading on Dec. 11 after a long-awaited market listing, surging 10% from the initial public offering price of 32 riyals ($8.53). The increase helped the company close in on the $2 trillion valuation long sought by Saudi Crown Prince Mohammed bin Salman.\n\nAramco raised $25.6 billion on Dec. 5 through the IPO. The flotation propelled the Riyadh bourse into the world's top ten by value of listed companies.\n\nIn mid-September, oil prices surged by as much as 19% before coming off peaks, after an attack on the kingdom that shut 5% of global crude output. The intraday jump was the biggest surge since the 1991 Gulf War.\n\nKuwait's blue-chip index .BKP advanced 32.4% in 2019, making it the best-performing stock market for the year.\n\nInterest in Kuwait grew following MSCI's decision to move Kuwaiti equities into its main emerging market index in 2020. Vrajesh Bhandari, senior portfolio manager at Al Mal Capital, said they expect the index to be well supported until the move.\n\nEgypt's index .EGX30 increased 7.1% in 2019. On Tuesday, Commercial International Bank COMI.CA edged up 0.2%.\n\nQatar's index .QSI gained 1% for the year, after the rally last year on account of passive flows as companies raised limits on foreign ownership of their shares.\n\n\"It was expected that the market would underperform in 2019 and the flat show is not surprising,\" said Vrajesh.\n\nOn the other hand, Oman's index .MSI had another bad year leaving it down 7.9% for all of 2019, close to 15-year lows.\n\nSAUDI ARABIA\n\n.TASI rose 0.5% to 8,389 points\n\nABU DHABI\n\n.ADI dropped 0.3% to 5,076 points\n\nDUBAI\n\n.DFMGI down 0.2% to 2,765 points\n\nQATAR\n\n.QSI lost 0.2% to 10,426 points\n\nEGYPT\n\n.EGX30 up 0.2% to 13,962 points\n\nBAHRAIN\n\n.BAX added 0.1% to 1,610 points\n\nOMAN\n\n.MSI gained 0.7% to 3,981 points\n\nKUWAIT\n\n.BKP edged up 0.1% at 6,976 points\n\n($1 = 3.7508 riyals)\n\n(Reporting by Ateeq Shariff in Bengaluru; editing by Philippa Fletcher)\n\n(([email protected]; +918067497129;))\n\nThe views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.", "keywords": [], "meta_keywords": [""], "tags": ["Explore", "Earnings", "IPOs", "Blockchain", "Cryptocurrencies", "Markets", "US Markets", "Technology", "World Markets", "Stocks", "Commodities", "Retirement", "Explore World Markets"], "authors": ["Ateeq Shariff"], "publish_date": null, "summary": "", "article_html": "", "meta_description": "Dubai's index ended the year up more than 9%, outperforming other major Gulf markets, while Kuwait led the region with a 32% gain and Oman fell for a third year in a row.", "meta_lang": "en", "meta_favicon": "/sites/acquia.prod/files/favicon.ico", "meta_data": {"title": "MIDEAST STOCKS-Dubai outperforms major Gulf bourses in 2019; Oman remains pressured | Nasdaq", "twitter": {"card": "summary_large_image", "site": {"identifier": "@Nasdaq", "id": "nasdaq"}, "title": "MIDEAST STOCKS-Dubai outperforms major Gulf bourses in 2019; Oman remains pressured", "url": "https://www.nasdaq.com/articles/mideast-stocks-dubai-outperforms-major-gulf-bourses-in-2019-oman-remains-pressured-2019-12", "image": "https://www.nasdaq.com/sites/acquia.prod/files/2019-12-30T090123Z_1_DS1_RTRLXPP_2_LYNXPACKAGER.JPG"}, "og": {"type": "Article", "url": "https://www.nasdaq.com/articles/mideast-stocks-dubai-outperforms-major-gulf-bourses-in-2019-oman-remains-pressured-2019-12", "title": "MIDEAST STOCKS-Dubai outperforms major Gulf bourses in 2019; Oman remains pressured", "image": "https://www.nasdaq.com/sites/acquia.prod/files/2019-12-30T090123Z_1_DS1_RTRLXPP_2_LYNXPACKAGER.JPG"}, "description": "Dubai's index ended the year up more than 9%, outperforming other major Gulf markets, while Kuwait led the region with a 32% gain and Oman fell for a third year in a row.", "com.nasdaq.cms.taxonomy.topic": "markets:world-markets", "com.nasdaq.cms.taxonomy.adDisplay": "True", "com.nasdaq.cms.taxonomy.sponsored": "False", "com.nasdaq.cms.taxonomy.pageType": "article-page", "Generator": "Drupal 8 (https://www.drupal.org)", "MobileOptimized": "width", "HandheldFriendly": "true", "viewport": "width=device-width, initial-scale=1.0", "msapplication-TileColor": "#da532c", "theme-color": "#ffffff", "google-site-verification": "A4ZdzztVttv1nCpL1SePVC3K2K"}, "canonical_link": "https://www.nasdaq.com/articles/mideast-stocks-dubai-outperforms-major-gulf-bourses-in-2019-oman-remains-pressured-2019-12"} |
