MENA shares mixed , Saudi Arabia higher supported by passive funds inflows

MENA shares ended Monday’s session in mixed territory as Saudi Arabia shares edged higher supported by passive funds inflows while Abu Dhabi index fell pressured by the Utilities sector.

Bahraini shares fell on Monday’s session with the primary Bahraini index BAX losing 0.15 percent or 2.29 points to end the session in the red at 1,548.784 pressured by losses in the Consumer Telecommunication services sectors.

Meanwhile, Qatar shares closed the session in the green, where Doha main index QSI rose by 0.33 percent or 34.18 points to close at 10,309.030 supported by gains in the Telecommunication Services and Basic Materials sectors.

In stocks news, Qatar First Bank was the best performer adding 4.24 percent, followed by Ooredoo which added 3.6 percent.

U.S. WTI crude oil futures rose on today’s session to trade at 57.96 USD per barrel at 15:00 GMT. Moreover, International Brent futures ended Friday in the green at 61.64 USD per barrel, and rose on today’s session to trade at 62.74 USD a barrel at 15:00 GMT.


Saudi Stock Market:

Saudi Arabia's TASI edged higher on Monday’s session by 0.05 percent or 4.36 points to close the session at 8,055.24 supported by gains in the Telecom sector which added 1.22 percent.

The Saudi Stock Exchange expects additional passive funds' inflows worth $3 billion from the remaining phases of inclusion in the FTSE Russell emerging market index starting in September.

In August, the Saudi exchange completed the final phase of joining the MSCI index, upping its weight on the index to 2.8 percent. However, the index has reduced its gains for the year to 2.7 percent pressured the U.S.-China trade dispute and regional geopolitics dampened investor sentiment.

In the corporate space, Fawaz Abdulaziz Alhokair was the sessions top performer adding 6 percent followed by Zamil Industrial Investment which surged by 4.21 percent.

United Arab Emirates Stock Market:

United Arab Emirates’ shares closed Monday’s trading session on mixed territories, as Abu Dhabi Main index ADI closed the session in the red while Dubai index rose by 0.28  percent.

Abu Dhabi equities closed today’s session lower, with Abu Dhabi’s leading benchmark ADI falling by 0.58 percent or 29.368 points to close at 5,075.87, pressured by losses in the Utilities sector.

In stock news, Gulf Cement was the sessions worst performer losing 4.41 percent followed by Abu Dhabi National Energy Company which lost 3.75 percent.

In Dubai, the index rose by 0.28 percent or 8.01 points, supported by gains in Healthcare and Utilities sectors.

In stocks news, Takaful Emarat Insurance rose by 2.92 percent to followed by Amanat Holdings, which added 2 percent.

Real estate shares, which have been on the back foot in recent sessions, were also higher. Blue-chip developer Emaar Properties added 0.4 percent ending a four-day losing streak. While Dubai property prices, having tumbled 25-35 percent since a mid-2014 peak, are facing further downward pressure and are expected to decline sharply amid a slowdown in the economy and an oversupply of housing units which pose significant downside risks to their already weak outlook, according to a Reuters Poll.

Egypt Stock Market:

Egypt’s leading benchmark EGX 30 fell by 0.29 percent on Monday’s, to trade at 14,887.78 at the close, pressured by Consumer Cyclicals and Healthcare sectors.
In stock news, Ibnsina Pharma was the top loser falling 3.88 percent, followed by Heliopolis Co for Housing and Development, which fell by 2.67 percent.

Meanwhile, the country's largest lender Commercial International Bank edged lower by 0.2 percent.

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