* Tadawul formally launches derivatives market
* Aramco discovers two new oil and fuel fields
By Ateeq Shariff
Aug 30 (Reuters) – Most stock markets within the Gulf ended
larger on Sunday, with Saudi Arabian shares rising on the again
of positive aspects in financials.
The dominion’s benchmark index rose 0.6%, with Riyad
Bank rising 2.1% and Samba Monetary Group
climbing 1.5%.
The Saudi Stock Alternate (TADAWUL) launched the nation’s
first exchange-traded derivatives market and clearing home on
Sunday, as a part of its technique to make its fairness markets extra
enticing to overseas traders.
In 2019, the Saudi market joined the FTSE Rising All Cap
Index and the MSCI Rising Markets Index, triggering extra
overseas fund inflows.
Elsewhere, oil large Saudi Aramco added 0.3%.
Aramco has found two new oil and fuel fields within the
northern area of Abraq al-Toloul and al-Jof, the dominion’s
power minister mentioned on Sunday, state information company SPA reported.
Dubai’s essential share index eased 0.3%, harm by a 3.9%
slide in Emirates Built-in Telecommunications (du) and
a 0.9% fall in Emirates NBD Bank.
In Abu Dhabi, the index edged up 0.1%, helped by a
1.1% rise within the nation’s largest lender First Abu Dhabi Bank
.
The Qatari index rose 0.4%, pushed by a 2.1% achieve in
petrochemical agency Industries Qatar and a 0.7%
improve in Business Bank.
In the meantime, the Gulf state on Sunday set a fundamental month-to-month
minimal wage of 1,000 Qatari riyals ($274.6) and scrapped a rule
requiring employers to consent to staff altering jobs.
Outdoors the Gulf, Egypt’s blue-chip index slipped
0.2%, with Business Worldwide Bank falling 0.5%.
** Bahrain was closed for a public vacation.
SAUDI ARABIA rose 0.6% to 7,984 factors
ABU DHABI added 0.1% to 4,538 factors
DUBAI fell 0.3% to 2,261 factors
QATAR added 0.4% to 9,923 factors
EGYPT down 0.2% to 11,435 factors
OMAN gained 0.4% to three,752 factors
KUWAIT was up 0.4% at 5,875 factors
(Reporting by Ateeq Shariff in Bengaluru; modifying by David
Evans)
