Middle East Stocks Mixed, Saudi Shares Boosted by Banks

Mideast shares were mixed, with Saudi stocks rising with help from a stronger banking sector.

In company news, Fawaz Alhokair Group unit Arabian Centres said it will this month launch an IPO that could raise about $1 billion and become the largest IPO in Saudi Arabai in five years.

Qatar Electricity And Water said on Monday it aims to generate 40% of its profit from foreign investment arm Nebras Power.

Finablr plans an initial public offer on the London Stock Exchange. It plans to raise $200 million from the sale of

new shares, with some existing shares also being offered for sale.

Saudi Arabia's main index gained 0.6% to 9,140 points, Abu Dhabi slipped 0.2% to 5,214 points, Dubai dropped 0.5% to 2,792 points, Qatar edged up 0.4% to 10,259 points, Egypt slumped 0.6% to 14,973 points, Bahrain firmed 0.1% to 1,443 points, Oman shed 0.7% to 3,985 points and Kuwait rose 0.8% to 6,182 points.

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


More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.