The highest level of the Saudi market since 5 years
The Saudi stock market led the region yesterday to recover after the resolution last week, the highest level in five years, gains in most sectors with the stability of world oil prices. The index rose 1.3 percent to 9,426 points, marking the highest level since July 2008. Most shares closed higher, including petrochemical and cement manufacturers, banks and food producers. Portfolio managers Farouk Wahed Riyad manager suggested ' optimism and anticipation first quarter results ' are the most important reasons for the wave. Saudi indicator, which includes petrochemicals giant companies like SABIC, has declined over the past week, with lower oil prices, but Brent partially recovered on Friday. At the news of the positive market development in the long term, revealed two Saudi-ACWA power projects, water and electricity, NCB, the largest bank in Saudi Arabia for steps to insert their last Thursday.
On the other hand, the DFM one percent supported Emaar arrow which resumed its gains following last week's rise and increased 1.6 percent but lower trading volumes returns a prompt rise of ages in recent ads increase in dividend and plan to insert shopping centers. And the General to Dubai when the 4347th meeting point after broke through technical resistance level last week at 4242-4247 points. There are no significant technical resistance levels in the near term. Real estate investment fund, said Emirates REIT indicative range set to roll out in the first when 1.36 to 1.56 dollars a share and predicted a complete listing on NASDAQ Dubai, towards the middle of April. This will be the first initial public offering in Dubai since 2009. Bahrain index rose 0.8 percent, supported by Enterprise Bank Arabic arrow that jumped 7.1 percent. The arrow went up strongly last month, after reports that the Bank will be named Ray Ferguson, Standard Chartered Bank, then decline thereafter and is now rising again.