Saudi stocks continue to rise… and Egypt’s stock market soars

The Saudi Stock Exchange Index rose 0.9 percent, supported by a 0.7 percent rise in Al Taiseer Aluminum Manufacturing Group and a 1.9 percent rise in Al Rajhi Bank shares.

And earn a share Aramco company The oil giant rose 0.4 percent ahead of the meeting OPEC+.

Reuters reported last Thursday, citing OPEC+ sources, that the group is discussing delaying an oil production increase that is due to start in January to the first quarter of 2025 and will hold further talks on this and other options before the postponed policy meeting December 5. .

In Qatar, the index fell by 0.2 percent, due to falling shares Industries Qatar Petrochemical Manufacturing Company One percent, and shares of the Qatar Islamic Bank lost 0.8 percent.

Outside the Gulf, Egypt’s stock index rose 0.7 percent, supported by a 2.9 percent rise in shares of Eastern Tobacco Company, which controls Egypt’s tobacco market.

Data from the Central Bank of Egypt showed that money supply (M2) increased by 29.54 percent year-on-year in October.

Money supply reached 11.24 trillion pounds ($226.84 billion), up from 8.68 trillion in the same month last year.