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Middle East Shares Mostly Slip Amid Volatile Oil Prices

MidEast stocks mostly declined amid choppy oil prices while Aldar Properties results pressured Abu Dhabi.

Oil prices were volatile on Thursday as investors remained cautious on U.S. - China trade relations. Any downtick in China's economy will pressure oil prices.

Aldar Properties missed estimates with a 28% drop in Q2 profit this week.

In other company news, Arabtec reported a 24% rise in quarterly profit.

Refiner Petro Rabigh's Q2 profits fell 26%.

Industries Qatar said 1H profits rose, while QNB Financial Services reported in line results.

Saudi Arabia's main index eased 0.4% to 8,176 points, Dubai slumped about 1% to 2,920 points, Abu Dhabi declined 1.1% to 4,872 points, Qatar shed 0.8% to 9,887 points, Kuwait slipped 0.2% to 5,456 points, Bahrain firmed 0.3% to 1,350 points, Oman dipped 0.1% to 4,431 points and Egypt gained 0.4% to 15,924 points

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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