Latest news with #SaudiArabianRefineries
Reuters
27-05-2025
- Business
- Reuters
Major Gulf markets mixed on Trump's tariff uncertainty
May 27 (Reuters) - Gulf stock markets were mixed on Tuesday, with Saudi Arabia's main Tadawul index (.TASI), opens new tab retreating 0.78% as investor sentiment remained fragile on the unpredictability of U.S. President Donald Trump's trade policies. Trump announced a postponement of his threatened 50% duties on the European Union on Sunday, providing a boost to futures markets. A deadline for July 9 has been set to allow for talks between Washington and the 27-nation bloc to produce a deal. Nasdaq futures rose 1.67% and S&P 500 futures climbed 1.49%. Oil prices - a catalyst for the markets in the Gulf - were little changed, with Brent crude futures up 11 cents, or 0.2%, by 0640 GMT, as markets await clarity on the OPEC+ group's next move at a meeting later this week. O/R In Saudi Arabia, Saudi Arabian Refineries Company ( opens new tab lost 3.44%, while Saudi Industrial Investment Group ( opens new tab was down 3.38%. But markets in the United Arab Emirates traded higher, with Abu Dhabi's benchmark index (.FTFADGI), opens new tab up 0.11% and Dubai's main share index (.DFMGI), opens new tab gaining 0.23%, and hitting its highest level since July 2008. Amlak Finance ( opens new tab was Dubai's biggest gainer, up 6.10%, after the company announced a board meeting later this week to discuss significant corporate actions, including asset sales and a potential exit from its real estate finance portfolio. Qatar's benchmark stock index (.QSI), opens new tab fell 0.29%, logging losses for a second straight session. Qatar National Bank ( opens new tab,the largest bank in the region by assets, was down 0.64%, and Qatar Fuel Company ( opens new tab retreated 0.67%.
Zawya
13-05-2025
- Business
- Zawya
Mideast Stocks: Most Gulf Markets settle higher as investors weigh U.S.-China trade truce
Most stock markets in the Gulf settled higher on Tuesday, although gains were limited as investors paused to weigh whether a temporary pause in the U.S.- China trade war would lead to a long-lasting agreement. Brent crude futures rose about 1%, to $65.61 a barrel by 1209 GMT, but gains were capped by pressure of increasing supplies. Meanwhile, sources told Reuters that Saudi Arabia's crude oil supply to China will hold steady in June after hitting its highest in more than a year in the previous month after an OPEC+ decision to increase output. Around the world, a rally in stocks lost steam on Tuesday, as initial cheer over a trade agreement between the U.S. and China was replaced by caution about its impact on the global economy. On Tuesday, U.S. President Donald Trump kicked off his Middle East trip by visiting Saudi Arabia first, hoping to secure trillions of dollars of investments from Gulf oil producers. Saudi Arabia's benchmark stock index settled up 0.38%, boosted by a 9.85% rise in Saudi Arabian Refineries. The refiner logged a quarterly profit after markets closed on Monday. Dubai's main share index closed up 0.54%, with the country's food ordering business Talabat Holdings leading gains on the index and settled up 3.6%. Shares of Sharia compliant lender Dubai Islamic Bank also closed up 3% Bucking the trend, the Qatari index fell 0.22%, dragged lower by a 1.73% drop in Vodafone Qatar. Outside the Gulf, Egypt's blue-chip index settled up 0.37%. Engineering and construction contractor Orascom Development Egypt was the top gainer, rising 3.5% after it named a new Chairman and CEO. SAUDI ARABIA up 0.38% to 11,532.27 ABU DHABI down 0.08% to 9,631.48 DUBAI up 0.54% to 5,362.68 QATAR fell 0.22% to 10,585.58 EGYPT up 0.37% to 31,692.77 BAHRAIN inched up 0.1% to 1,918.306 OMAN fell 0.35% 4,361.328 KUWAIT rose 0.25% at 8,750.93 (Reporting by Rishab Shaju and Chandini Monnappa in Bengaluru; Editing by Tasim Zahid)
Business Recorder
13-05-2025
- Business
- Business Recorder
Most Gulf Markets settle higher as investors weigh U.S.-China trade truce
Most stock markets in the Gulf settled higher on Tuesday, although gains were limited as investors paused to weigh whether a temporary pause in the U.S.- China trade war would lead to a long-lasting agreement. Brent crude futures rose about 1%, to $65.61 a barrel by 1209 GMT, but gains were capped by pressure of increasing supplies. Meanwhile, sources told Reuters that Saudi Arabia's crude oil supply to China will hold steady in June after hitting its highest in more than a year in the previous month after an OPEC+ decision to increase output. Around the world, a rally in stocks lost steam on Tuesday, as initial cheer over a trade agreement between the U.S. and China was replaced by caution about its impact on the global economy. On Tuesday, U.S. President Donald Trump kicked off his Middle East trip by visiting Saudi Arabia first, hoping to secure trillions of dollars of investments from Gulf oil producers. Saudi Arabia's benchmark stock index settled up 0.38%, boosted by a 9.85% rise in Saudi Arabian Refineries. The refiner logged a quarterly profit after markets closed on Monday. Most Gulf shares gain on US-China tariff deal; Egypt snaps losing streak Dubai's main share index closed up 0.54%, with the country's food ordering business Talabat Holdings leading gains on the index and settled up 3.6%. Shares of Sharia compliant lender Dubai Islamic Bank also closed up 3% Bucking the trend, the Qatari index fell 0.22%, dragged lower by a 1.73% drop in Vodafone Qatar. Outside the Gulf, Egypt's blue-chip index settled up 0.37%. Engineering and construction contractor Orascom Development Egypt was the top gainer, rising 3.5% after it named a new Chairman and CEO. ----------------------------------------- SAUDI ARABIA up 0.38% to 11,532.27 ABU DHABI down 0.08% to 9,631.48 DUBAI up 0.54% to 5,362.68 QATAR fell 0.22% to 10,585.58 EGYPT up 0.37% to 31,692.77 BAHRAIN inched up 0.1% to 1,918.306 OMAN fell 0.35% 4,361.328 KUWAIT rose 0.25% at 8,750.93 -----------------------------------------
