Global Market News

Mideast Stocks Mostly Rise as US-Iran Tensions Ease


Last updated: 01/13/2020 11:03:38

11:03 AM EST, 01/13/2020 (MT Newswires) -- Middle East shares mostly rose as US-Iran tensions eased and corporate results start to come in. But Egypt eased as foreign investors sold, according to exchange data.

In company news, Qatar Insurance named Salem Khalaf Al Mannai as chief executive officer.

Pioneers Holding said its board had approved a share-swap ratio set by a financial adviser for increasing stake in five subsidiaries to 90%.

Saudi Arabia's main index added 0.8% to 8,441 points, Abu Dhabi rose 0.6 % to 5,114 points, Dubai strengthened 0.8 % to 2,776 points, Qatar gained 0.6% to 10,568 points, Egypt slipped 0.8% to 13,698 points and Bahrain firmed 0.1 % to 1,602 points. Kuwait and Oman closed after Oman's Sultan Qaboos bin Said died, Trade will reopen there on Tuesday and Wednesday, respectively.
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