Introduction

Most of the stock markets in the Persian Gulf today, Sunday, closed higher thanks to higher oil prices on Friday, while the Egyptian index continues to bear losses for the fourth session.

Oil prices, the main catalyst for financial markets in the Gulf countries, rose almost 3 percent to a nine-week high on Friday as supply and tech purchase concerns outweigh investor fears that higher interest rates will slow economic growth and dampen demand for oil. . .

Saudi Arabia Index

According to Reuters, the Saudi Arabia index rose by 0.1%, while the share of Dr. Sulaiman Al-Habib Medical Services Group grew by 1.1%.

Qatari Index

The Qatari index rose 0.3%, supported by a 1.8% rise in shares of the telecommunications company (I want to).

Sources close to the Organization of the Petroleum Exporting Countries (OPEC) said the group is likely to remain optimistic about oil demand growth next year in its forecasts it releases this month, expecting growth to slow from this year, but will remain above average. .

Egyptian Index

Outside the Gulf region, the blue-chip index in Egypt fell 3.2%, widening losses for the fourth session as foreign investors continued to sell in difficult economic conditions locally and internationally.

Nearly all stocks included in the index declined, including Misr Fertilizers Production Company, which fell 18%.

Kuwaiti and Bahraini Index

The Kuwaiti index rose 0.4% to 8020 points, while the Bahraini index fell 3.2% to 16555 points.