Saudi Arabia, UAE Stocks Higher

Saudi Arabia stocks were broadly higher during the course of Monday’s session, boosted by advancing shares in the sectors of the Industrial Investment, Real Estate Development and Insurance.

The Tadawul All Share has seen a 0.69% increase at the close in Saudi Arabia.

Among the best performers on the Tadawul All Share session were Saudi Industrial Development Co., which rallied by about 9.66% or 1.00 points to changed hands at 11.35 in late trade. Middle East Specialized Cables Co gained 9.29% or 0.65 points to settle at 7.65 and Saudi Transport & Investment Co rose 9.16% or 5.75 points to 68.50 at the close.

One of the worst performers amid session were Wataniya Insurance Company, which declined by about 32.88% or 14.40 points to changed hands at 29.40 in late trade. Malath Cooperative Insurance Co lost 9.97% or 1.45 points to settle at 13.10 and Tihama Advertising&Public Relations dropped 9.76% or 2.90 points to 26.80 at the close.

Advancing stocks outnumbered dropping ones on the Saudi Arabia Stock Exchange with a range between 120 to 36 and 14 remained unchanged.

Wataniya Insurance Company stocks declined to all time lows, which tumbled 32.88% or 14.40 to 29.40 in late trade.

Crude oil delivery in September dipped 1.37% or 0.57 to end the session at $41.03 a barrel. In commodities trading, Brent oil delivery in October dropped 1.36% or 0.59 to settle at $42.94 a barrel, while Gold contract in December declined 0.19% or 2.55 to changed hands at $1354.95 a troy ounce.

EUR/SAR lost about 0.11% to end at 4.187.3, while USD/SAR rallied 0.01% to 3.7502 at the close.

The US Dollar Index rose 0.17% at 95.69.

United Arab Emirates Stocks Advances

United Arab Emirates stocks edged higher during the course of Monday’s session, boosted by advancing shares in the sectors of the Real Estate & Construction, Consumer Staples and Services.

The DFM General gained 0.89%, while the ADX General index rose 0.11% at the close in Dubai.

Among the best performers amid DFM General’s session were Emaar Malls Group, which rallied by about 3.16% or 0.090 points to changed hands at 2.940 in late trade. Damac Properties Dubai Co PSC gained 3.02% or 0.070 points to settle at 2.390 and Arabtec Holding PJSC added 2.76% or 0.040 points to 1.490 at the close.

One of the worst performers amid session were Emirate Integrated Telecom Co, which lost 1.35% or 0.090 points to changed hands at 6.560 in late trade. Dubai Investments PJSC dipped 0.95% or 0.020 points to settle at 2.080 and SHUAA Capital PSC tumbled 0.47% or 0.003 to 0.637 at the close.

Abu Dhabi National for Building Materials Co PJSC is among the top performers during the ADX General session, which gained 6.12% to 0.520 in late trade, Dana Gas rose 3.64% to end at 0.570 and Methaq, which rallied 3.45% to 0.900 at the close.

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