Major stock markets in the Gulf ended lower on Monday as investors waited for key U.S. inflation data this week, which could provide more clues on the Federal Reserve's monetary policy path.
Most Gulf currencies are pegged to the dollar, and Saudi Arabia, the United Arab Emirates, and Qatar usually mimic any monetary policy change in the United States © Mena Today
Major stock markets in the Gulf ended lower on Monday as investors waited for key U.S. inflation data this week, which could provide more clues on the Federal Reserve's monetary policy path.
Markets will monitor U.S. consumer inflation due on Tuesday ahead of the Federal Reserve's policy decision next week.
Most Gulf currencies are pegged to the dollar, and Saudi Arabia, the United Arab Emirates, and Qatar usually mimic any monetary policy change in the United States.
Outside the Gulf, Egypt's blue-chip index was up for a third consecutive session and ended 1.4% higher, with Commercial International Bank surging 8.9% and E-Finance shooting up 14%.
The International Monetary Fund (IMF) said last week it would increase its current loan programme with Egypt by $5 billion, as the central bank let the pound plummet and said it would allow the currency to trade freely.
By Md Manzer Hussain
Israel's economy has for almost a year ridden out the chaos of a war that risks spiralling into a regional conflict, but rising borrowing costs are starting to strain its financial architecture.
Saudi Arabia is preparing to abandon its unofficial $100 a barrel oil price target as it gets ready to raise output to win back market share, even if it means lower prices, the Financial Times reported on Thursday.
A decision on an IPO is for the shareholder ADQ to make, the CEO of Abu Dhabi's Etihad Airways, Antonoaldo Neves, said on Wednesday.
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