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MIDEAST STOCKS-Egypt stocks hit by blue-chip selloff, Gulf markets quiet

The Egyptian stock market ended lower on Sunday after a retreat in shares in its blue-chip index, while trade on major Gulf markets was quiet.

By Ateeq Shariff

Oct 18 (Reuters) - The Egyptian stock market ended lower on Sunday after a retreat in shares in its blue-chip index, while trade on major Gulf markets was quiet.

Egypt's blue-chip index .EGX30 declined 1.2%, as most of the stocks on the index fell, including Commercial International Bank COMI.CA, which was down 1.7%.

Stock exchange data showed Egyptian investors were net-sellers of the stocks.

Saudi Arabia's benchmark index .TASI closed up 0.1%, with the Gulf's largest petrochemical maker Saudi Basic Industries 2010.SE rising 1%, while Almarai 2280.SE advanced 3.4% following an increase in quarterly net profit.

The dairy producer reported a net profit of 621.5 million riyals ($165.70 million) in the third quarter, up from 581 million riyals a year earlier.

Dubai's main share index .DFMGI dropped 0.6%, pressured by a 1.2% fall in sharia-compliant lender Dubai Islamic Bank DISB.DU and a 1.8% decline in logistics company Aramex ARMX.DU.

The Abu Dhabi index .ADI slipped 0.2%, hit by a 1.4% fall in Abu Dhabi Commercial Bank ADCB.AD and a 0.2% drop in the country's largest lender First Abu Dhabi Bank FAB.AD.

In Qatar, the index .QSI edged up 0.1%, helped by a 2.5% gain in Qatar Insurance QINS.QA.

SAUDI ARABIA

.TASI rose 0.1% to 8,561 points

ABU DHABI

.ADI eased 0.2% to 4,547 points

DUBAI

.DFMGI fell 0.6% to 2,181 points

QATAR

.QSI added 0.1% to 10,010 points

EGYPT

.EGX30 down 1.2% to 11,185 points

BAHRAIN

.BAX lost 0.1% to 1,477 points

OMAN

.MSI gained 0.3% to 3,602 points

KUWAIT

.BKP dropped 1% to 6,315 points

($1 = 3.7508 riyals)

(Reporting by Ateeq Shariff in Bengaluru. Editing by Jane Merriman)

((AteeqUr.Shariff@thomsonreuters.com; +918061822788;))

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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