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Middle East Stocks Mixed, Steady Oil Prices and Stronger Global Markets Lend Support to Saudi Market

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MidEast shares were mixed, with Saudi shares finding support from steady oil prices and stronger global markets as U.S. President Donald Trump faces pressure to walk back plans for steel and aluminum tariffs.

Meanwhile, Egypt climbed to a record high as the economy benefits from last month's rate cut.

In company news, First Abu Dhabi Bank went stock went ex-dividend. On ex-dividend dates, the exchange reduces the stock price by the amount of the dividend to account for the fact new investors are not eligible to receive dividends and are therefore unwilling to pay a premium.

Saudi Arabia's main index edged up 0.96% to 7,437.61 points, Dubai dipped 0.05% to 3,204.91 points, Abu Dhabi slumped 1.87% to 4,523.49 points, Qatar dropped 0.29% to 8,429.30 points, Egypt added 1.99% to 16,022 points, Kuwait was unchanged at 6,805.74 points, Bahrain inched up 0.01% to 1,374.766 points and Oman shed 0.81% to 4,947.400 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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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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