Economic

Gulf bourses decline, amid fears of a new wave of Corona

Gulf stock markets fell on Monday, as four markets fell and three others rose, amid fears of a new wave of Corona virus, the fall of oil prices and renewed fears of increasing stocks. 

At 13.20 GMT, futures contracts for the Brent crude, August delivery, fell 1.81 percent, or $ 0.70, to $ 38.03 a barrel.

US West Texas Intermediate crude, July delivery, fell 2.76 percent, or $ 1.0, to $ 35.26 a barrel.

In the UAE, the Abu Dhabi capital market index fell 0.2 percent to 4267.76 points, and the Dubai Financial Market Index fell 1.92 percent to 2051.7 points.

Qatar Stock Exchange fell 0.55 percent to 9134.02 points, with the National Bank falling 9.9 percent, stores 8.8 percent, and manufacturing by 4.5 percent.

The Saudi Stock Exchange fell 0.40 percent to 7263.65 points, with Al-Rajhi Bank dropping 0.8 percent, and the National Bank 1.8 percent.

On the other hand, the Muscat Stock Exchange rose 0.02 percent to 3520.66 points, with the shares of United Energy 9.9 percent, Omani Finance Services 2.5 percent, and Al-Jazeera Steel Products 3.2 percent.

Gulf bourses decline, amid fears of a new wave of Corona

The Bahrain Stock Exchange rose 0.07 percent to 1275.15 points, with shares of IBM Terminals Bahrain 3.6 percent, Seef Properties 1.7 percent, and the National Bank of Bahrain 0.5 percent.

The first market index in Kuwait rose 1.16 percent to 5409.38 points, the main market index rose 0.33 percent, and the general market index 0.93 percent.

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