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Sun 9 Jun 2019 03:33 PM

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Most Middle East markets rise as traders return to desks

Gauges in Saudi Arabia, Dubai, Kuwait, Bahrain, Oman and Egypt climbed following last week's increase for the MSCI Emerging Markets Index

Most Middle East markets rise as traders return to desks

Middle East stocks generally advanced on Sunday, catching up with emerging-market peers, as traders returned to work following holidays.

Gauges in Saudi Arabia, Dubai, Kuwait, Bahrain, Oman and Egypt climbed following last week’s increase for the MSCI Emerging Markets Index.

Stock exchanges in the Arab world were closed for most of last week due to Eid al-Fitr, the holiday marking the end of the holy fasting month of Ramadan.

Emerging-market stocks advanced for a second week as hopes for policy easing in major economies offset concern about US-Mexico trade frictions. An index tracking currencies from developing nations also posted a third consecutive weekly gain.

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