Most Gulf stock markets ended higher yesterday, supported by strong corporate earnings and optimism over a potential US-Iran peace deal, although uncertainty persisted over the fate of the strategically vital Strait of Hormuz.
Saudi Arabia’s benchmark index rose 0.8 per cent, with ACWA Power surged 10pc, while Elm Co, also, jumped 10pc following a steep rise in first-quarter profit.
Dubai’s main share index gained 0.6pc, led by 5.6pc surge in toll operator Salik and a 7.2pc surge in Emirates Central Cooling Systems after upbeat quarterly earnings.
In Abu Dhabi, the index finished flat. The Qatari index added 0.6pc, with petrochemical maker Industries Qatar gaining 1.6pc.
The Bahrain All Share Index closed at 1,941.69 points yesterday, marking a decrease of 13.92 points below the previous closing.
This decrease was due to the drop in the industrial sector and the material sector.
Bahrain Islamic Index has closed at 932.74 points, marking a decrease of 15.35 points below the previous closing.
Results indicated that 368 equity transactions took place with a volume of 10,071,640 worth BD2,947,370.
Investors traded mainly in the financial sector, representing 90.87pc of the total value of securities traded.
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