Gulf Arab investors carefully join buying spree

14:44, July 12, 2010      

Email | Print | Subscribe | Comments | Forum 

Gulf Arab stock markets followed the surge last week at Western bourses Sunday. Indices in New York, London and Frankfurt advanced last Friday as a modest euro currency recovery triggered hopes that the worst in the debt-laden euro zone might be over.

But Gulf Arab nations benefited themselves from increased economic growth projections by the International Monetary Fund ( IMF) for the Middle East and North Africa (MENA) region.

IMF Chief Economist Olivier Blanchard expected MENA to grow by 4.5 percent in 2010 and by 4.9 percent next year. Also, oil prices climbed to a two-week high of more than 76 U.S. dollars per barrel.

On Saturday, the oil price sensitive Tadawul market in Saudi Arabia surged 2.38 percent, sending waves of optimism throughout the Gulf region. Tadawul market lost a bit momentum Sunday and finished 0.66 percent higher at 6,241.10 points.

The Dubai Financial Market (DFM), the sheikhdom's local stock market, consequently opened strongly, but failed to sustain its momentum and closed with a modest advance of 0.43 percent at 1,506. 27 points.

【1】 【2】 【3】


  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • On Sept. 28, tourists travel around the Mingshashan Scenic Area in Dunhuang, Gansu province by camel. With the National Day vacation right around the corner, more and more tourists from home and abroad are going to Dunhuang. Riding on a camel, they travel in the desert to enjoy the cities rare form of natural scenery. (Xinhua/Zhang Weixian)
  • Chinese forest armed forces work together with forest firefighters on Sept. 28. (Xinhua/Chai Liren)
  • Photo taken on Sept. 29, 2011 shows strong wind blows trees in Sanya, south China's Hainan Province. Typhoon Nesat heads towards south China and is moving at an average wind speed of 20 km per hour toward the west coast of China's Guangdong Province. (Xinhua/Hou Jiansen)
  • A fallen tree is seen on a road in Qionghai, south China's Hainan Province, Sept. 29, 2011. Typhoon Nesat was predicted to land in Hainan later Thursday, bringing heavy rainfalls to the island. (Xinhua/Meng Zhongde)
  • Arash Kamalvand (L) of Iran spikes the ball during the semifinal against South Korea at the 16th Asian Men's Volleyball Championship in Tehran, Iran, Sept. 28, 2011. Iran won 3-1 to advance to the final. (Xinhua/Ahmad Halabisaz)
  • A man visits "Thy Word Is Truth, the Bible Ministry Exhibition of the Protestant Church in China", during its opening at Mount Vernon Place United Methodist Church in Washington DC, capital of the United States, Sept. 28, 2011. Through the Bible's various Chinese versions, ancient or modern, as well as pictures, paintings, calligraphy, art works and historical documents, the exhibition was expected to give an overall understanding of how Bible was brought into China, how it was translated, published, distributed and loved. (Xinhua/Zhang Jun)
Hot Forum Discussion