High dividend yield announcement in Dubai leads to a surge in Emaar Development’s stock.
On Monday, most Gulf stock markets closed higher, ignoring a drop in oil prices, with Dubai leading the gains following the largest-ever intraday increase in Emaar Development, while the Egyptian index continued its downward trend. Oil prices, which have a significant impact on Gulf economies, fell on Monday, with Brent crude futures trading down $1.30, or 1.5%, at $84.53 a barrel at 1210 GMT.
According to Farah Mourad, senior market analyst at XTB MENA, concerns about demand could impact oil prices after China set lower-than-expected growth targets. The Federal Reserve and the European Central Bank are also expected to adopt more hawkish monetary policies, further impacting oil prices.
Saudi Arabia’s benchmark index ended 0.4% higher, extending its rally to a fifth session, with gains in healthcare and banking stocks. Dr. Sulaiman Al-Habib Medical Services increased 1.7%, while Riyad Bank climbed 2.5%.
Dubai’s main share index climbed 1.1%, boosted by a 14.9% surge in Emaar Development, its biggest intraday gain ever. The surge added 2.9 billion dirham ($789.67 million) to the company’s market value. The real estate developer announced a cash dividend of 52 fils per share for the fiscal year 2022 on Monday. The road tolls operator Salik also rose 4.7%.
Abu Dhabi’s share index rose 0.9%, its fifth positive day in a row, boosted by a 1.4% hike in UAE’s top lender, First Abu Dhabi Bank. Conglomerate International Holding Co (IHC) gained 0.8% as it intends to invest in Presight AI Holding’s initial public offering (IPO). IHC’s unit Alpha Dhabi Holding also advanced more than 4%.
The Qatari index, which traded after a session’s break, gained 0.7%, with most of its constituent stocks moving in positive territory, including petrochemical maker Industries Qatar, which was up 1.4%.
Outside the Gulf, Egypt’s blue-chip index closed slightly lower at 0.1%, extending its losses to a third consecutive session, with Egypt Kuwait Holding shedding 2.6%.
Despite the drop in oil prices, Gulf stock markets were largely unaffected, with most markets ending higher. The surge in Emaar Development’s share price, driven by its announcement of a cash dividend of 52 fils per share for the fiscal year 2022, added billions of dirham to the company’s market value. The market gains were also driven by positive performances in healthcare and banking stocks.
Saudi Arabia’s benchmark index continued its rally for a fifth consecutive session, with Dr. Sulaiman Al-Habib Medical Services and Riyad Bank posting gains. Dubai’s main share index rose by 1.1%, with Emaar Development’s surge being a significant contributor. Abu Dhabi’s share index rose by 0.9% for its fifth positive day in a row, driven by gains in First Abu Dhabi Bank and IHC’s announcement of an investment in Presight AI Holding’s IPO.
The Qatari index, which resumed trading after a session’s break, gained 0.7%, with most of its constituent stocks posting gains, including Industries Qatar, a petrochemical maker. Egypt’s blue-chip index, however, extended its losses to a third consecutive session, shedding 0.1%, with Egypt Kuwait Holding posting losses.
Nudmms
ivermectin 12mg for humans – ivermectina tegretol 400mg pill
January 3, 2025Rtbqyn
purchase absorica sale – zyvox canada buy zyvox 600mg generic
January 18, 2025Vprvrq
buy cheap generic amoxicillin – combivent price buy ipratropium 100mcg generic
January 19, 2025Tkrofi
order zithromax 250mg pill – purchase bystolic generic how to get nebivolol without a prescription
February 1, 2025Qcopoh
cheap prednisolone online – buy azithromycin 250mg buy progesterone generic
February 3, 2025Feimro
gabapentin brand – cheap itraconazole 100 mg purchase itraconazole for sale
February 10, 2025Kapunr
furosemide price – betnovate cheap3 cheap betamethasone 20gm
February 10, 2025Eollxz
buy generic amoxiclav – duloxetine 20mg for sale buy duloxetine 20mg generic
February 15, 2025Yugfrp
cheap augmentin – buy nizoral online cymbalta 40mg generic
February 23, 2025Hnscjt
order generic semaglutide 14mg – purchase levitra generic buy cyproheptadine for sale
February 25, 2025Ohhueu
tizanidine 2mg for sale – microzide cost oral hydrochlorothiazide 25 mg
February 28, 2025Hwppot
cialis 20mg for sale – order tadalafil 40mg generic usa pharmacy viagra
March 6, 2025Xrhumj
order viagra 50mg – cialis drug purchase cialis generic
March 8, 2025Ctuqyc
lipitor 80mg pills – how to get zestril without a prescription order zestril 2.5mg for sale
March 15, 2025Svxoka
purchase cenforce – cenforce 100mg brand order glycomet 1000mg
March 16, 2025Lmqtqp
buy lipitor 80mg online – buy generic zestril for sale oral zestril 2.5mg
March 17, 2025Xkcdeb
order lipitor 80mg generic – order norvasc without prescription buy lisinopril generic
March 17, 2025Mxzhyz
omeprazole buy online – metoprolol 100mg sale order atenolol 50mg without prescription
March 21, 2025Exbnbq
methylprednisolone 8mg tablet – pregabalin 75mg generic order aristocort pill
March 27, 2025Ibtqdd
purchase clarinex pills – purchase loratadine sale buy dapoxetine 90mg pills
March 29, 2025Fapqnk
order generic misoprostol – order generic diltiazem 180mg buy diltiazem generic
March 31, 2025Ceakjg
brand acyclovir – zovirax us crestor uk
April 6, 2025Qohvjo
brand motilium – cyclobenzaprine cheap buy cyclobenzaprine 15mg generic
April 8, 2025Morucp
buy motilium 10mg online – order cyclobenzaprine 15mg online oral flexeril
April 16, 2025Rwdykf
inderal 20mg for sale – buy inderal sale methotrexate 5mg pills
April 17, 2025Lphjri
buy warfarin 2mg online – metoclopramide us buy losartan 25mg sale
April 20, 2025Ysilnz
levofloxacin 250mg generic – zantac us where to buy ranitidine without a prescription
April 24, 2025Gcstpe
order generic esomeprazole 20mg – nexium 20mg tablet buy imitrex for sale
April 25, 2025