50105
Saudi Stocks Fall
Saudi Stocks Fall

Saudi Stocks Fall

Saudi Stocks Fall

Saudi Arabian stocks declined the most in the Persian Gulf as the country’s equities traded for the first time in a week, tracking a selloff across developing nations as investors weigh the chances of a US interest rate increase this year.
The Tadawul All Share Index dropped 1.9% on Sunday as it reopened after a week-long religious holiday. That dragged Bloomberg’s (P)GCC 200 Index, a measure of the largest and most liquid companies in the six-nation (Persian) Gulf Cooperation Council, down 0.8% to a more than two-month low.
Emerging-market stocks posted the steepest five-day drop in more than four months last week amid growing speculation the Federal Reserve may increase interest rates by year-end, diminishing appetite for riskier developing-nation assets.
Meanwhile, oil retreated last week on speculation that Libya and Nigeria are preparing to boost exports, adding to growing skepticism that the Organization of Petroleum Exporting Countries and Russia will agree on measures to stabilize the market at a meeting in Algiers later this month.
“Saudi stocks are basically pricing in the long period without trade during which emerging markets dropped considerably,” said Saleem Khokhar, the Abu Dhabi-based head of fund management and equities at the asset-management group of National Bank of Abu Dhabi PJSC, the United Arab Emirates’ second-biggest bank. “Expectations for the talks in Algiers are not so high any more, which is not good for Saudi Arabia at all.”

Short URL : https://goo.gl/tJmKL5
  1. https://goo.gl/vgNIUh
  • https://goo.gl/cMTUkT
  • https://goo.gl/vdvzCO
  • https://goo.gl/9AJ6op
  • https://goo.gl/B5jEcK

You can also read ...

At Tuesday's event, representatives from PwC hobnobbed with senior officials and business figures. - Photos by Saeed Ameri
PricewaterhouseCoopers, a leading multinational professional...
The busiest Iranian airport, Tehran’s International Mehrabad Airport, handles 400 daily flights on average.
An Iranian official said the country’s airport organization...
Melli Bank's Hong Kong Branch Restarts Operations
The Hong Kong branch of Melli Bank London PLC, a subsidiary of...
Production lines of Cherry ‘A5’ and ‘Qq’ along with Lifan X50 and X60 have been halted.
Production lines of four Chinese mid-range vehicles have been...
Fintechs Among Top Iranian Firms
No more than just a few years have passed since Iranian...
IKCO Says Planning  Green Cars
Iran Khodro says it will produce eco-friendly vehicles in the...
TEDPIX Hits 45-Month High
Tehran Stock Exchange’s main index jumped 497.90 points or 0....
Steel production output capacity stands at 37 million tons, with long steel capacity accounting for more than 70%.
The government has turned to various experts for assessing the...

Trending

Googleplus