Middle East exchange rose in anticipation of the opening of trading on oil


Middle East stock exchange in countries where Sunday is not a rest, in the course of trading on 6 March showed growth of quotations in anticipation of the opening of trading for oil in London and new York. Since the end of January, these markets had entered the growth phase due to the increase in oil prices.

The greatest growth has shown the quotations on the stock exchange in the UAE capital Abu Dhabi: the ADX index closed at 4556,43 points, which is 3.07% higher than the closing level of the previous session. Since the end of January, the index gained more than 22%, reaching levels of October 2015.

The Dubai exchange has grown over Sunday trading day on 2,89%, and since January, the DFM index gained more than 29%, rising to values of November 2015.

Kuwait stock exchange reacted calmly: the growth amounted to 0.7%, and since the end of January, the KWSE index rose by almost 6%, returning to the level of mid-January of this year.

These markets were closed on March 4 and 5, while the London stock exchange ICE has not conducted the auction on 5 and 6 March (Saturday and Sunday). In the last last week day trading prices for Brent crude showed a 5-percent growth and reached $38,94 per barrel, nearly breaking the maximum value for the bidding 2016 — $38,99 per barrel.

Local minimum Brent crude oil price showed on 20 January, dipping to $27.1 per barrel.