Latest news with #BoursaKuwaitPremierMarketIndex
Mint
9 hours ago
- Business
- Mint
Israel-Iran war: Why are Middle East stock markets gaining despite US attack on Iran?
Israel-Iran war: Israeli stocks surged to record highs on Sunday following U.S. strikes on Iran's nuclear facilities, which investors believe will delay Tehran's ability to develop nuclear weapons. The broad Tel Aviv 125 index closed up 1.8%, bringing its gains for the week to nearly 8%, while the blue-chip TA-35 (.TA35) rose by 1.5 per cent. Following Israeli strikes on Iran, the stock market posted gains throughout all five sessions last week, rising around 6 per cent, as Israel targeted Iranian nuclear and military sites ahead of the unexpected U.S. attacks on Saturday. Meanwhile, other Middle East countries stock market also witnessed strong rally amid ongoing tensions. Kuwait stock market indices Boursa Kuwait Premier Market Index was up nearly a per cent to 8,650.6. Meanwhile, in Muscat, Oman, the MSX30 Index was trading 0.50 per cent up to 4,525.31. U.S. President Donald Trump announced that he had destroyed Iran's key nuclear facilities in overnight strikes using powerful bunker-busting bombs, aligning with an Israeli offensive in a major escalation of tensions in the Middle East. "The destruction of Iran's key nuclear facilities by the U.S. military is, of course, a positive development ... in terms of improving the regional security environment and reducing Iran's military and nuclear capabilities," said Mizrahi Tefahot chief markets economist Ronen Menachem, was quoted as saying by Reuters. Israel launched intense strikes on Iranian nuclear sites, ballistic missile production centers, and senior military figures on June 13, prompting retaliatory attacks from Iran in response. Tehran pledged to protect itself and retaliated on Sunday by launching a barrage of missiles at Israel, injuring dozens and causing significant destruction to buildings in Tel Aviv. "Looking at the medium- to long-term — which is relevant for many strategic investors — this could represent a genuine opportunity, possibly related to the prospect of closer ties between the Saudi and American axis," Menachem said. (With inputs from Reuters) Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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Business Standard
17 hours ago
- Business
- Business Standard
Israel's equity stocks rise on hopes US strikes may ease Iran conflict
Middle Eastern stocks rose on Sunday, led by Israel and Egypt, as the region's traders bet the US strikes on Iran may accelerate the end of the conflict between the country and Israel. Israel's TA-35 benchmark index advanced 1.5 per cent, posting a sixth successive day of gains and staying on course for the biggest quarterly advance since 2003. Egypt's equity benchmark posted a 2.7 per cent jump. Other markets in the region recorded modest gains. The Boursa Kuwait Premier Market Index and the MSX30 Index in Muscat added 0.4 per cent each. Qatar's benchmark was 0.2 per cent higher. Saudi Arabia's Tadawul All Share Index fell 0.3 per cent. 'Markets are focused on whether the war spreads to other countries and there is no evidence of that as yet,' said Hasnain Malik, a strategist at Tellimer in Dubai. 'The benign interpretation is that the US intervention will accelerate the end of the war. That, of course, remains to be seen.' In Israel, bank shares accounted for most of the gains, while defense supplier Elbit Systems Inc. dropped more than 2 per cent. 'The market is displaying cautious optimism against the backdrop of the security reality,' Yaniv Pagot, vice president of trading at Tel Aviv Stock Exchange, said in a note. 'The increases reflect an improvement in the risk premium of the State of Israel.' Irrespective of early reaction in the Middle East, global investors are bracing for market turbulence that may trigger a dash into haven assets on Monday. Money managers are now watching out for Iran's potential response, including whether it may attempt to block the Strait of Hormuz — a key passage for oil and gas — and whether it attacks US assets in the region. 'Short-term, markets such as crude oil will pivot on whether Iran retaliates and widens the war in a way that impacts oil supply versus backing down and offering concessions on its nuclear program,' Tellimer's Malik said. 'The biggest risk to the region is a collapse of the regime in Iran and a descent into Syrian-style civil war. US intervention may increase the probability of this.'
Zawya
06-05-2025
- Business
- Zawya
MENA region saw 14 IPOs valued at US$2.1bln in Q1 2025
KSA's Umm Al Qura for Development & Construction raised the highest proceeds with US$523m Across the MENA region, 21 companies have announced their intention to list during 2025 Dubai, UAE: According to the EY MENA IPO Eye Q1 2025 report, MENA markets saw 14 IPOs during Q1 2025, raising US$2.4b in proceeds. When compared year-on-year to the Q1 2024 listings, the number of IPOs increased by four, with a significant rise in proceeds of 106%. The IPOs in Q1 2025 were listed across the Kingdom of Saudi Arabia (KSA), the United Arab Emirates (UAE), and Oman. The listing for Umm Al Qura for Development & Construction raised the highest proceeds in the quarter, contributing 22% of the overall IPO proceeds, followed by Almoosa Health, which contributed 19%. Both companies are listed on the Tadawul Main Market in KSA. In terms of MENA stock exchange performance, the Boursa Kuwait Premier Market Index emerged as the top performer, recording a gain of 10.7%, followed by the Egyptian Exchange (EGX30), which saw an 8% gain. At the end of the quarter, 11 out of the 14 MENA IPOs showed a positive return compared to their IPO price. Brad Watson, MENA EY-Parthenon Leader, says: 'This year started on a positive note. MENA capital markets continue to show resilience, with the total IPO value more than doubling compared to the same period last year. KSA continues to dominate the MENA region's market in terms of activity as well as proceeds. In addition, the IPO pipeline for the rest of the year remains robust across various sectors and multiple countries.' KSA sees the MENA region's largest IPO for the quarter In KSA, the Tadawul Main Market welcomed the largest offering in the MENA region for Q1 2025 with Umm Al Qura for Development & Construction raising US$523m and contributing 22% of the overall IPO proceeds. This was followed by Almoosa Health Group, which accounted for 19% with US$450m, and Derayah Financial with US$400m. In the first quarter of the year, KSA led the region in IPO activity again, accounting for 12 out of the 14 listings. During this period, five IPOs took place on the Tadawul Main Market, generating total proceeds of US$1.8b, while the remaining seven IPOs listed on the Tadawul Nomu Parallel Market totaled US$69m. The Kingdom also witnessed one direct listing on the Tadawul Nomu Parallel Market with Twareat Medical Care Company (TMC). The IPO funds raised in KSA during Q1 2025 came from diverse sectors, with the largest contributions from real estate management (28%), healthcare equipment and services (24%), financial services (21%) and consumer discretionary distribution and retail (17%). UAE and Oman witness one listing each During Q1 2025, the UAE saw one IPO listed on the Abu Dhabi Securities Exchange (ADX) with Alpha Data PJSC, a company in the software and IT services sector, raising US$163m. Oman's Muscat Stock Exchange (MSX) witnessed one IPO, with Asyad Shipping Company SAOG raising US$333m. Gregory Hughes, EY MENA IPO and Transaction Diligence Leader, says: 'The increased demand for MENA listings has led to developments in market infrastructure through new products, enhanced governance standards, and a focus on transparency and accountability. The upward trajectory in the number of IPOs across the region reflects a wider trend of sector diversification, with investors and companies increasingly looking beyond traditional oil-based industries. In 2025, we can potentially expect to see an increase in IPOs from the technology sector, including online retail, FinTech, foodtech, and classifieds.' The outlook for MENA IPOs for the rest of 2025 remains positive, with 21 companies intending to list on the region's exchanges across various sectors. KSA remains the frontrunner, with 17 companies having received approval from the Capital Market Authority (CMA). In the UAE, three companies have announced their plans to list and outside the GCC, Egypt has announced one IPO.
