Saudi leads as Gulf bourses end higher; Egypt extends loss

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Saudi leads as Gulf bourses end higher; Egypt extends loss
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Making Phyllo Parcels with a Greek Yaya | SaltWire #halifaxnovascotia #greekfood #cooking - Most stock markets in the Gulf ended higher on Sunday, led by the Saudi index, after a U.S. inflation reading supported expectations of interest rate cuts from the Federal Reserve.

Meanwhile, Saudi Arabia is offering investors about 1.545 billion Aramco shares, at 26.7 to 29 riyals. The sale drew more demand than the stock on offer within hours of kicking off on Sunday. The data showed Friday U.S. inflation rose in line with market expectations in April, spurring hopes of interest rates cuts by the Fed.

Outside the Gulf, Egypt's blue-chip index slipped for a fifth consecutive session to end 0.2% lower, with most sectors in the red.

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