MIDEAST STOCKS-Abu Dhabi outperforms on financials and actual property, most Gulf markets rise

    By Tuqa Khalid
    DUBAI, April 21 (Reuters) - Abu Dhabi shares outperformed
Gulf markets on Sunday on expectations that banks and actual
property corporations will profit from new guidelines which might permit
foreigners to personal land and property in funding areas on a
freehold foundation.
    The Abu Dhabi index rose 1 %, lifted by RAK
Properties, up 2.7 %, and Aldar Properties
, up 2.1 %.
    Abu Dhabi Business Financial institution rose 1.Eight % and
Union Nationwide Financial institution rose 2.Three %. 
    The rise in investor curiosity got here forward of an organization submitting
that stated Al Hilal Financial institution's proprietor, the Abu Dhabi Funding
Council, appointed Alaa Eraiqat because the lender's chairman.

    Eraiqat is presently group chief govt of Abu Dhabi
Business Financial institution (ADCB), which is anticipated to merge
with Al Hilal Financial institution and Union Nationwide Financial institution (UNB) within the
first half of 2019. 
    Eraiqat will function chairman at Al Hilal along with
his present position at ADCB.
    First Abu Dhabi Financial institution continued a latest rally to
add 1.Four %. The highest lender in Abu Dhabi rose practically 9
% final week after acquiring regulatory approval to
enhance its overseas possession restrict to 40 % from 25
    Saudi Arabia's major index, the Tadawul All-Share benchmark
, was up 0.5 %, lifted by financials and
    Islamic lender Alinma and telecommunications agency
Etihad Etisalat (Mobily) had been up 5.Three % and 4.8
%, respectively, after reporting robust earnings for the
first quarter.
    "Typically, the (Saudi) company outcomes coming in right now
have been encouraging. Sentiment stays constructive on overseas
inflows as the subsequent FTSE and MSCI inclusion nears," stated 
Muhammad Faisal Potrik, head of analysis at Riyad Capital. 
    Saudi shares joined the FTSE Rising All Cap Index in March
with a weighting of two.9 %. In Could, Saudi shares will be part of
the MSCI Rising Markets Index.
    In Dubai, the index rose 0.2 % on the again of
a robust efficiency by actual property shares equivalent to Deyaar
, Emaar Growth and Emaar Malls
 which had been up 3.7 %, 2.1 % and 1.2
%, respectively.
    Qatar's inventory market inched up 0.1 % on
financials, as Qatar First Financial institution rose 1.1 %,
Qatar Islamic Financial institution gained 0.Three % and Qatar
Insurance coverage firm added 1 %.
    Egypt's blue-chip index was down 0.Three %, with
Alexandria Mineral Oils Co SAE shedding 3.6 %
and El Sewedy Electrical slipping 2 %. 
    "Regional markets have been specializing in passive flows from
MSCI and FTSE occasions in Saudi and Kuwait whereas ignoring different
markets like Dubai, Oman and Bahrain as a consequence of lack of catalysts,"
stated Sanat Sachar, fairness analysis analyst at Dubai's Al Mal
    "We count on this theme to stay legitimate for the subsequent couple of
months and put up that traders will begin  different
markets in quest of higher funding alternatives with
cheaper valuations," Sachar added.
 SAUDI      The index         was up 0.5 pct at 9,240 factors
 ABU DHABI  The index        rose 1 pct to five,346 factors
 DUBAI      The index          was up 0.2 pct at 2,821 factors
 QATAR      The index        was up 0.1 pct at 10,355 factors
 EGYPT      The index          was down 0.Three pct at 14,839 factors
 BAHRAIN    The index        was flat at 1,446 factors
 OMAN       The index        was up 0.1 pct at 3,984 factors
 KUWAIT     The index        was up 0.1 pct at 6,249 factors

 (Reporting by Tuqa Khalid, modifying by Hadeel Al Sayegh and
Louise Heavens)

Author: Maxwell C.

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