AGL 40.02 Increased By ▲ 0.02 (0.05%)
AIRLINK 127.35 Increased By ▲ 0.31 (0.24%)
BOP 6.62 Decreased By ▼ -0.05 (-0.75%)
CNERGY 4.50 Decreased By ▼ -0.01 (-0.22%)
DCL 8.62 Increased By ▲ 0.07 (0.82%)
DFML 41.79 Increased By ▲ 0.35 (0.84%)
DGKC 87.70 Increased By ▲ 0.85 (0.98%)
FCCL 32.68 Increased By ▲ 0.40 (1.24%)
FFBL 65.10 Increased By ▲ 0.30 (0.46%)
FFL 10.28 Increased By ▲ 0.03 (0.29%)
HUBC 109.55 Decreased By ▼ -0.02 (-0.02%)
HUMNL 14.75 Increased By ▲ 0.07 (0.48%)
KEL 5.10 Increased By ▲ 0.05 (0.99%)
KOSM 7.58 Increased By ▲ 0.12 (1.61%)
MLCF 41.41 Increased By ▲ 0.03 (0.07%)
NBP 59.70 Decreased By ▼ -0.71 (-1.18%)
OGDC 193.85 Increased By ▲ 3.75 (1.97%)
PAEL 28.36 Increased By ▲ 0.53 (1.9%)
PIBTL 7.79 Decreased By ▼ -0.04 (-0.51%)
PPL 151.75 Increased By ▲ 1.69 (1.13%)
PRL 26.40 Decreased By ▼ -0.48 (-1.79%)
PTC 16.17 Increased By ▲ 0.10 (0.62%)
SEARL 84.00 Decreased By ▼ -2.00 (-2.33%)
TELE 7.69 Decreased By ▼ -0.02 (-0.26%)
TOMCL 35.40 Decreased By ▼ -0.01 (-0.03%)
TPLP 8.12 No Change ▼ 0.00 (0%)
TREET 16.08 Decreased By ▼ -0.33 (-2.01%)
TRG 52.60 Decreased By ▼ -0.69 (-1.29%)
UNITY 26.37 Increased By ▲ 0.21 (0.8%)
WTL 1.25 Decreased By ▼ -0.01 (-0.79%)
BR100 9,953 Increased By 69.4 (0.7%)
BR30 30,908 Increased By 307.7 (1.01%)
KSE100 93,812 Increased By 456.3 (0.49%)
KSE30 29,062 Increased By 130.9 (0.45%)

DUBAI: Most Middle Eastern Markets ended higher on Wednesday mirroring gains in oil prices, after President Donald Trump falsely claimed victory in a tight US election that proved far closer than polls had predicted.

A victory by Trump is viewed as bullish for oil because of sanctions on Iran and his support for Saudi-led OPEC oil cuts to support prices.

Brent crude was up by 1.02 cents, or 2.50%, at $40.73 by 1242 GMT.

Saudi Arabia’s benchmark index advanced 1.1%, boosted by a 2.9% rise in Samba Financial Group and a 0.7% increase in oil giant Saudi Aramco.

Aramco, the world’s top oil producing company, on Tuesday reported a net profit of 44.21 billion riyals ($11.79 billion) for the three months ended Sept. 30, in line with an analysts’ estimate provided by Refinitiv.

Dubai’s main share index rose 0.7%, Shariah-compliant lender Dubai Islamic Bank climbed 1.8%, and Emirates NBD Bank was up 1%.

The bank confirmed on Tuesday it was in discussions with Lebanon’s Blom Bank regarding the potential acquisition of Blom Bank Egypt.

In Abu Dhabi, the index gained 0.9%, led by a 3.8% jump in International Holding.

Last week, the aquaculture company reported a net profit of 958.9 million dirhams ($261.08 million) in the third quarter, up from 16.6 million dirhams a year earlier.

The Qatari index inched up 0.3%, supported by a 1.5% gain in Qatar Fuel Co.

The Gulf state’s budget will be drawn up on the assumption of an oil price of $40 a barrel to shield the gas-rich Gulf country from oil price volatility, Qatar’s Emir said on Tuesday.

Outside the Gulf, Egypt’s blue-chip index closed up 0.4%, led by a 0.2% rise in top lender Commercial International Bank.—Reuters

Comments

Comments are closed.