Mideast Markets Start May Mixed After Gains in April: Inside EM

The main index in Kuwait rose 0.5%, the biggest advance, with gauges in Dubai, Abu Dhabi and Oman also up.

OPEC and its allies see world consumption rebounding by 6 million barrels a day this year, what could continue to provide a boost to shares in Saudi Arabia, the world’s biggest crude oil exporter.

A recent rally in Saudi financial stocks was driven mostly by “enormous growth” both for the fourth quarter and the first three months of 2021, said Jaap Meijer, the head of equity research at Arqaam Capital.

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