for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

MIDEAST STOCKS-Saudi outshines as Gulf rebounds on receding Mideast tensions

    * Saudi sees biggest gain in over a year
    * Aramco leaps to close at 35 riyals
    * All stocks on Kuwait's index rise

    By Ateeq Shariff
    Jan 9 (Reuters) - Middle Eastern stock markets rebounded on
Thursday, with Saudi outperforming the region, as investors
repositioned themselves on signs of no further escalation
between Tehran and Washington.
    U.S. President Donald Trump responded to an Iranian attack
on U.S. forces with sanctions, not violence. On Wednesday, Iran
fired missiles at military bases housing U.S. troops in Iraq in
retaliation for a U.S. drone strike that killed an Iranian
general.
    Saudi Arabia's benchmark index advanced 2.7%, its
biggest intraday gain since Oct. 2018. Al Rajhi Bank
leapt 2.3%, while state-owned Saudi Aramco climbed
2.3% to 35 riyals, snapping four straight days of losses.
    897.2 million riyals ($239.19 million) worth of Aramco
shares were traded by the close, with around 25.8 million shares
exchanging hands, Refinitiv data showed.
    Dubai's main share index rebounded 1.3%, a day
after it fell 1.2%, led by gains at financial shares. Dubai
Islamic Bank, the United Arab Emirates largest
sharia-compliant lender, rose 1.3% and Emirates NBD Bank
 was up 1.2%.
    In Abu Dhabi, the index added 1.1% driven by a 1.3%
rise in First Abu Dhabi Bank and a 1.7% increase in Abu
Dhabi Commercial Bank.
    The Qatari Index closed 1% up with lender Masraf Al
Rayan and Qatar National Bank rising 2.3%
and 0.8%, respectively.
    Elsewhere, Kuwait's index was also up, ending 1.9%
higher, as all the stocks on the index gained.
    Outside the Gulf, Egypt's blue-chip index increased
1.7%, extending the previous day's gains. Commercial
International Bank, the country's largest lender, was
up 1.2% and Egypt Kuwait Holding jumped 4.2%. 
    Stock exchange data on Thursday showed that Egyptian
investors were net-buyers of the stocks.
    
 SAUDI ARABIA          advanced 2.7% to 8,346 points
 ABU DHABI            gained 1.1% to 5,076 points
 DUBAI                  added 1.3% to 2,749 points
 QATAR                rose 1% to 10,444 points
 EGYPT                  up 1.7% to 13,730 points
 BAHRAIN              increased 0.8% to 1,597 points
 OMAN                 was also up 0.8% to 3,977 points
 KUWAIT               closed up 1.9% at 6,929 points
 

($1 = 3.75 riyals)

 (Reporting by Ateeq Shariff in Bengaluru)
  
for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up