Stocks

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.

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