Live Updates > Live Update Details
2025-12-18 17:18:56
[Gulf Stock Markets Mixed Amid Oil Prices and Interest Rates, Awaiting US Inflation Storm] ⑴ Gulf stock markets diverged in early trading on Thursday. Oil prices rose slightly on news of potential new US sanctions on Russian oil, but market attention was focused on upcoming key US inflation data. ⑵ The Abu Dhabi benchmark index rose 0.3%, primarily driven by a 0.9% increase in ADNOC Gas shares and a 3.3% surge in ESG Emirates Stallions Group shares after announcing the launch of a 1.2 billion dirham waterfront residential project. ⑶ The Qatar benchmark index fell 0.2%, with Industries Qatar shares dropping 2% and Qatar National Bank, the region's largest bank, declining 1.3%, amid reports that Qatar Energy had lowered its crude oil premium. ⑷ The Dubai benchmark index dipped slightly by 0.1%, dragged down by a 9.6% plunge in Gulf Shipping Holdings shares, but Tecom Group shares rose 1.5% after announcing the launch of a 615 million dirham innovation center. (5) Saudi Arabia's benchmark stock index was largely unchanged, with ACWA Power shares down 1%, while Saudi Arabia's mining company shares rose 0.9% after receiving approval from the Ministry of Energy for feed allocation to its phosphate project. (6) Federal Reserve Governor Waller stated that the central bank may still cut interest rates as the labor market cools, and vowed to defend the Fed's independence. Meanwhile, investors awaited the US November CPI report later Thursday and the PCE price index on Friday. (7) Because most currencies in the region are pegged to the US dollar, Gulf markets are extremely sensitive to changes in expectations regarding US monetary policy; therefore, upcoming inflation data will be a key catalyst determining short-term capital flows.
