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MidEast Shares Mixed, Saudi Arabia Inches Up As Brent Crude Edges Above $34 Per Barrel

Middle East stocks were mixed, with Saudi Arabia inching higher as Brent crude traded above $34 per barrel.

In company news, Emaar Malls said Q4 net profit rose 5.5% to to 435 million dirhams ($118 million).

Air Arabia said net profit fell to 59 million dirhams, below SICO Bahrain's estimate of 79.3 million dirhams. It also was the company's third consecutive quarterly profit decline.

Union National Bank said its net profit dropped to 1.86 billion dirhams last year from 2.02 billion dirhams in 2014 because of higher impairment charges.

Kuwait Food Co (Americana) said its board had agreed to give a Gulf- based investment firm 60 days to carry out due diligence for the acquisition of a controlling stake in the company.

Saudi Arabia's main index firmed 0.2% to 5,906 points, Dubai gained 1.9%. Abu Dhabi was flat at 4,103 points, Qatar rose 0.8% to 9,698 points, Kuwait inched up 0.1% to 5,209 points, Egypt added 0.8% to 6,175 points, Oman jumped 1.9% to 5,398 points and Bahrain slipped 0.1% to 1,176 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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