Gulf Stocks End Lower, Qatar’s QE Index Falls 1.4%
Major Gulf stock markets ended lower Thursday. Qatar’s QE Index fell 1.4%, Dubai’s benchmark lost 1.1%, and Saudi Arabia’s Tadawul All Share Index and Abu Dhabi’s benchmark each slipped 0.3%.
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Melius upgrades Cava to buy on growth outlook
Melius Research raised Cava to buy from hold, saying the restaurant chain's expansion and unit economics remain durable drivers of earnings growth. The firm said Cava does not need a macro recovery to keep momentum.
HSBC, Standard Chartered seen solid into results
J.P. Morgan says HSBC and Standard Chartered have continuing momentum heading into third-quarter results, supported by higher rates and growth in Asia. The bank raised HSBC's 2027 EPS estimate by 1% and kept a preference for Standard Chartered.
Gulf stocks slip as Qatar leads broad regional decline
Qatar-led weakness pulled the QE Index down 0.5%, while Saudi’s Tadawul All Share fell 0.5%, Abu Dhabi’s benchmark dropped 0.3% and Dubai’s index lost 0.2% on Wednesday.
Bitcoin falls 3% as altcoin losses deepen
Bitcoin fell 3% to $83,071, while ethereum, XRP and solana also dropped as Glassnode said leverage in many altcoins could unwind further.