Wednesday , October 23 2019
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Saudi Stock Exchange rises with bank support, and Qatar is stepping up due to technical failure

The Saudi Stock Exchange grew on Thursday, increased from bank reserves, while the Qatar Stock Exchange suffered a technical malfunction and canceled some trades.

The Saudi index rose 0.6 percent after one hour of trading. The National Commercial Bank (NCB), Britain's largest bank, rose 1.3 percent.

Anam International Holding Group grew by 4.6 percent in heavy trading after signing a non-binding memorandum of understanding for the purchase of real estate and commercial assets owned by Abdulah Abbar and Sins refrigerators and Dar al-Abar. The two companies will receive new shares issued by Anne as part of the deal.

Amanah Cooperative Insurance rose 1.1 percent after CMA approved the company's request to raise 100 million rial ($ 26.7 million) through the issue of rights.

However, Saudi industrial exports fell 9.9 percent, and the shares retreated seven days after a speculative bubble that increased the stock to more than 200 percent since early October.

The Qatar Stock Exchange reported a technical defect that later said it was repaired. The market then announced the cancellation of all transactions that took place in the morning before the holiday, which did not reveal details.

The market continued to trade with minor changes.

The Abu Dhabi index grew by 0.1% after the fall in the previous two sessions. The first bank of Abu Dhabi, the largest bank in the Emirates, rose 0.4 percent, while Dana Gas fell 1 percent.

Dubai Stock Exchange dropped 0.2 percent, while Property fell 3.1 percent, and Emaar Properties dropped 1.1 percent.

But Arabtz climbed to third direct meeting, up 1.3%, and Arabek Engineering Target company said it had received an agreement this week to build 521 million dirhams (142 million US dollars), while Arabekt said it is making progress in refinancing of its debt.

Ajman Bank fell by 1%, while Shuaa Capital, which said it holds 4.8% of the bank's shares, is 100 million AED ($ 27.2 million).

Al-Gad news: Saudi Stock Exchange strengthens bank support, and Qatar is stepping up due to technical failure. You can see the original news source from the following link: Al-Gad. The unit's site denies full responsibility for the content of any news, but it is the responsibility of the original news publisher.

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