Major Gulf bourses mixed in early trade
Jan 13 (Reuters) – Major stock markets in the Gulf were mixed in early trade on Thursday, in line with Asian shares as global investors assessed that strong U.S. inflation data was not worrying enough to change the Federal Reserve’s already hawkish rates outlook.
MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.1% higher, after recording its biggest daily gain in a month on Wednesday.
The lender sold $750 million in debut “sustainable” sukuk on Wednesday after demand topped $3.2 billion, a bank document showed. read more
Separately, the kingdom is planning to auction up to three mining licences in 2022, including Khnaiguiyah mines where zinc and copper deposits are estimated at around 26 million tonnes, the kingdom’s mining minister said on Wednesday. read more
Qatar’s economy grew 2.6% year-on-year in the third quarter of 2021, according to official estimates, driven mainly by the non-hydrocarbon sector. read more
However, Dana Gas (DANA.AD) rose 1%, extending gains from the previous session, after the energy firm and its partner Crescent Petroleum achieved 50% gas production growth in Kurdistan Region of Iraq over past 3 years.
Oil prices, a key catalyst for the Gulf’s financial markets, slipped trimming big gains from the previous two sessions, amid uncertainty over near-term demand as cases of the highly contagious Omicron variant of the coronavirus surge around the globe. Reporting by Ateeq Shariff in Bengaluru
This article was originally published by Reuters.