Qatari index jumps over 2% ahead of QNB results

An investor screens a display screen displaying inventory info on the Abu Dhabi Securities Alternate June 25, 2014.

April 11 (Reuters) – Main Gulf indexes rose on Monday, with the Qatari index leaping greater than 2% as buyers awaited the outcomes of Qatar Nationwide Financial institution due later within the day.

In the meantime, international shares slid and oil costs fell as warning gripped markets forward of central financial institution conferences and U.S. inflation knowledge, and worries over the lockdowns in China continued.

Buyers continued to flock markets in Dubai forward of Dubai Electrical energy and Water Authority’s (DEWA) 22.32 billion dirhams ($6.08 billion) preliminary public providing.

The index was up 0.7%, boosted by monetary and communication providers shares.

Emirates Refreshments (ERC.DU) and Air Arabia (AIRA.DU), every up greater than 3%, had been the highest proportion gainers.

The Qatari index (.QSI) rose for a second consecutive session as Qatar Nationwide Financial institution (QNBK.QA) jumped 6.4%.

Qatar Worldwide Islamic Financial institution (QIIB.QA) rose for a second session and was up 3.4% a day after the lender and Qatar Growth Financial institution (QDB) concluded an replace on the ‘Al-Dhameen’ Programme, following the elapse of 10 years.

Saudi Arabia’s benchmark index (.TASI) was buying and selling flat.

Shares of Saudi Primary Industries (2010.SE), Northern Area Cement Firm (3004.SE) and Saudi Cement Firm (3030.SE) fell between 2% and 4% as these shares started buying and selling ex-dividend.

In Abu Dhabi, the index (.FTFADGI) rose 0.5%.

($1 = 3.6724 UAE dirham)

Reporting by Tanvi Mehta in Bengaluru; Modifying by Amy Caren Daniel

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