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3/15/24, 9:50 AM Mideast Stocks: Gulf markets rise on higher oil prices; US data in focus
A trader monitors a screen displaying stock information at Qatar Stock Exchange in Doha, Qatar November 9, 2016.
Naseem Zeitoon
EQUITIES
Mideast Stocks: Gulf markets rise on higher oil
prices; US data in focus
The Qatari benchmark index was up 0.6%
Md Manzer Hussain, Reuters News
March 14, 2024
Most stock markets in the Gulf rose on Thursday in line with global peers and firmer oil prices, while
investors awaited a raft of economic data, ahead of the Federal Reserve's meeting next week. Oil
price - a catalyst for the Gulf's financial markets- gained, supported by strong U.S. demand outlook,
and heightened geopolitical risk, with Brent rising 0.9% to $84.76 a barrel by 1418 GMT.
Dubai's benchmark index advanced 0.7%, supported by gains in almost all sectors with Emirates
NBD, the Emirate's largest lender, and tolls operator Salik Company both rising 2%.
Dubai's Parkin, which oversees public parking operations in the Emirates, has raised 1.57 billion
dirhams ($427.5 million) after pricing its IPO at the top of its range at 2.1 dirhams per share. Parkin is
expected to start trading on March 21.
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