Abu Dhabi market records the largest weekly loss since March 2020

Abu Dhabi market records the largest weekly loss since March 2020
Abu Dhabi market records the largest weekly loss since March 2020

Most of the stock markets in the Gulf region closed higher, today, Thursday, as concerns about the mutant Omicron from the Corona virus eased after a study indicated that the mutant may be less dangerous than thought.

According to the research conducted by Imperial College London and published on Wednesday, the risk of patients with the Omicron mutation needing to stay in hospital is between 40% and 45% less than those with the Delta mutation.

The cursor went up Saudi The main share of the company was 0.6%, supported by the rise in Al-Rajhi Bank’s share by 0.9%, and the closing of the share company Saudi Arabia Basic Industries (SABIC) in the petrochemical sector, up 1.4%.

Crude oil prices, a major catalyst for financial markets in the Gulf, have broadly stabilized.

Concerns about the potential impact of movement restrictions on fuel demand have subsided, while OPEC, Russia and their allies have left open the possibility of revising their plan to add 400,000 barrels per day of supply in January.

’s main stock index rose 0.6%, led by a 3.4% jump in Bank shares UAE National Dubai, and a rise of 1.1% for the stock UAE Integrated Communications (Du).

The Dubai market remains strong in terms of fundamentals and could recover more broadly once more data is available on Omicron, said Farah Murad, senior market analyst in the Middle East and North Africa division at XTP.

The Abu Dhabi index ended a series of losses that lasted for four sessions, to close up 0.4%, with the share of the telecom company rising 1.2%. But the Abu Dhabi index recorded a weekly loss of 4.8%, which is its largest loss since March 2020.

The Qatari index rose 0.1%, supported by a 0.9% rise in Qatar National Bank.

Outside the Gulf region, the blue-chip index rose Egyptian 1% after Fawry’s stock jumped totechnology Banks and electronic payments 2.9%, against the backdrop of announcing plans to establish a consumer finance company.

The central bank said EgyptianToday, Thursday, he extended the work of measures to mitigate the repercussions of the Corona virus until June 2022.

These were the details of the news Abu Dhabi market records the largest weekly loss since March 2020 for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT Sustainable beauty: Capturing a rising demand for conscious living

Author Information

I am Joshua Kelly and I focus on breaking news stories and ensuring we (“Al-KhaleejToday.NET”) offer timely reporting on some of the most recent stories released through market wires about “Services” sector. I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for Al-KhaleejToday.NET specializing in quicker moving active shares with a short term view on investment opportunities and trends. Address: 838 Emily Drive Hampton, SC 29924, USA Phone: (+1) 803-887-5567 Email: [email protected]