Israeli Stocks Extend Gains as Mideast Gauges Climb: Inside EM

Jan 20 2019, 9:23 AMJan 20 2019, 11:34 AMJanuary 20 2019, 9:23 AMJanuary 20 2019, 11:34 AM

(Bloomberg) -- Shares in Tel Aviv gain for a fourth straight session, with the main gauge advancing as much as 1.7%, the most in the Middle East.

Saudi Arabian stocks decline, after earlier adding 0.2%, as the main index trades in overbought territory for the longest period in over two years.

Most markets in the Middle East advance after emerging-market equities rose for a fourth week as signs of easing trade tensions supported riskier assets.

HIGHLIGHTS
Almost every member in Israel’s TA-35 Index increases
Almarai Co. and Savola Group are among the biggest decliners in Saudi Arabia, falling as much as 5% and 4.5%, respectively
Shares in Dubai, Bahrain and Kuwait advance, while gauges in Oman and Qatar retreat, with shares in Abu Dhabi and Egypt little changed

MIDDLE EASTERN MARKETS

Israel’s TA-35 up 1.6% as of 11 a.m. local time
- Healthcare provider Perrigo Co. adds as much as 3.9%, contributing most to the increase
The Tadawul All Share Index down 0.4%
In Abu Dhabi, Aldar Properties climbs as much as 3.3% after it said sales at Alreeman Development surpassed 1.6b dirhams
- The ADX General Index is little changed
Ahli United Bank in Kuwait gains 0.5% as it’s in discussions with Warba Bank to potentially sell their combined shareholding in Kuwait and Middle East Financial Investment Co.
- Kuwait’s main gauge advances 0.3%
- READ: NBK Well-Positioned to Lead Funding for Kuwait, Deputy CEO Says