Gulf stock markets rebound amid easing tensions with Qatar
                 Source: Xinhua | 2017-06-13 04:12:02 | Editor: huaxia

Traders monitor stock information at Dubai Financial Market, in Dubai, United Arab Emirates, June 5, 2017. (Xinhua/ReutersPhoto)

DUBAI, June 12 (Xinhua) -- The share prices from Dubai to Riyadh advanced on Monday, a day after the United Arab Emirates (UAE) and Saudi Arabia sent signals of more diplomatic efforts to end the political standoff between Qatar and its Gulf Arab neighbors.

The Abu Dhabi stock market lead index ADXGI advanced 0.28 percent to 4,511.28, while the Saudi Arabian stock market Tadawul in Riyadh rose 0.19 percent, closing at 6,822.43.

In Doha, Qatar's QE 30 Index rebounded 0.83 percent, hitting 9,135.16.

The Dubai Financial Market saw its market index DFMGI jump the most in the region, closing 1.16 percent higher at 3,427.28 on heavy trading.

On Sunday, UAE President Sheikh Khalifa Bin Zayed Al-Nahyan and Saudi King Salman Bin Abdulaziz Bin Saud both directed that lenience should be shown for Qatari-Emirati and Qatari-Saudi families on humanitarian grounds.

"Is it the beginning of reason and wisdom?" Anwar Mohammed Gargash, UAE Minister of State for Foreign Affairs, said on his twitter account.

Also on Sunday, Kuwait said Qatar was ready to listen to the concerns of Gulf Arab states that have severed diplomatic and economic ties with it, Saudi daily Arab News reported.

The Qatari gauge lost most last week and plummeted to an 18-month low after Saudi Arabia, the UAE, Bahrain and Egypt cut their diplomatic relations with Doha and imposed sanctions on Qatari aircraft on June 5, denying them entering the airspace. Saudi Arabia also sealed off Qatar's only land border on the Arab peninsula.

"Rating agency Standard and Poor's cut its long-term rating of Qatar by one notch to AA- from AA and put the rating on CreditWatch with negative implications," said Dubai-based economist Nasser Saidi, president of Nasser Saidi and Associates.

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Gulf stock markets rebound amid easing tensions with Qatar

Source: Xinhua 2017-06-13 04:12:02

Traders monitor stock information at Dubai Financial Market, in Dubai, United Arab Emirates, June 5, 2017. (Xinhua/ReutersPhoto)

DUBAI, June 12 (Xinhua) -- The share prices from Dubai to Riyadh advanced on Monday, a day after the United Arab Emirates (UAE) and Saudi Arabia sent signals of more diplomatic efforts to end the political standoff between Qatar and its Gulf Arab neighbors.

The Abu Dhabi stock market lead index ADXGI advanced 0.28 percent to 4,511.28, while the Saudi Arabian stock market Tadawul in Riyadh rose 0.19 percent, closing at 6,822.43.

In Doha, Qatar's QE 30 Index rebounded 0.83 percent, hitting 9,135.16.

The Dubai Financial Market saw its market index DFMGI jump the most in the region, closing 1.16 percent higher at 3,427.28 on heavy trading.

On Sunday, UAE President Sheikh Khalifa Bin Zayed Al-Nahyan and Saudi King Salman Bin Abdulaziz Bin Saud both directed that lenience should be shown for Qatari-Emirati and Qatari-Saudi families on humanitarian grounds.

"Is it the beginning of reason and wisdom?" Anwar Mohammed Gargash, UAE Minister of State for Foreign Affairs, said on his twitter account.

Also on Sunday, Kuwait said Qatar was ready to listen to the concerns of Gulf Arab states that have severed diplomatic and economic ties with it, Saudi daily Arab News reported.

The Qatari gauge lost most last week and plummeted to an 18-month low after Saudi Arabia, the UAE, Bahrain and Egypt cut their diplomatic relations with Doha and imposed sanctions on Qatari aircraft on June 5, denying them entering the airspace. Saudi Arabia also sealed off Qatar's only land border on the Arab peninsula.

"Rating agency Standard and Poor's cut its long-term rating of Qatar by one notch to AA- from AA and put the rating on CreditWatch with negative implications," said Dubai-based economist Nasser Saidi, president of Nasser Saidi and Associates.

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