MIDEAST STOCKS Major Gulf bourses off to a mixed start

World 02:12 PM - 2021-04-25

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Major Gulf markets were mixed in early trade on Sunday, with the Saudi index on track to extend gains from the previous session helped by in healthcare and petrochemical shares.

 

Saudi Arabia's benchmark index (.TASI) gained 0.3%, with Dr Sulaiman Al-Habib Medical Services (4013.SE) rising 1.8% and Saudi Kayan Petrochemical (2350.SE) jumping 4.4%.

 

The petrochemical firm posted a net profit of 492.9 million riyals in first-quarter compared to a loss of 516.8 million riyals a year earlier.

 

In Dubai, the main share index (.DFMGI) eased 0.1%, hit by a 0.3% decrease in blue-chip developer Emaar Properties (EMAR.DU) and 0.6% fall in Dubai Investments (DINV.DU).

 

The Abu Dhabi index (.ADI) added 0.1%, supported by a 0.5% gain in telecoms giant Etisalat (ETISALAT.AD).

 

The telecoms operator is expected to tap the international bond market in the coming days ahead of a 1.2 billion euro ($1.45 billion) bond maturity in June, Reuters reported, citing three sources familiar with the matter.

 

Meanwhile, the United Arab Emirates has suspended all incoming flights from India due to a surge in coronavirus infections there, the UAE's National Emergency Crisis and Disaster Management Authority (NCEMA) said on Thursday. read more

 

In Qatar, the benchmark (.QSI) lost 0.3%, with Commercial Bank (COMB.QA) falling 0.9%, while Qatar Islamic Bank (QISB.QA) was down 0.3%.

 

 

 

PUKmedia \ Reuters