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MIDEAST STOCKS-Major Gulf indexes end mixed; Egypt snaps losing streak

Credit: REUTERS/CHRISTOPHER PIKE

Major Gulf markets ended mixed on Tuesday, with financial shares weighing on the Saudi index, while property shares boosted Qatar's benchmark.

By Ateeq Shariff

Sept 22 (Reuters) - Major Gulf markets ended mixed on Tuesday, with financial shares weighing on the Saudi index, while property shares boosted Qatar's benchmark.

Saudi Arabia's benchmark index .TASI fell 0.6%, with Al Rajhi Bank 1120.SE losing 1% and oil giant Saudi Aramco 2222.SE down 0.8%.

Dubai's main share index .DFMGI slipped 0.3%, hurt by a 2.3% fall in Emirates NBD Bank ENBD.DU and a 0.4% drop in Mashreq Bank MASB.DU.

The Abu Dhabi index .ADI edged up 0.1%, supported by a 1.1% rise in Abu Dhabi Commercial Bank ADCB.AD and a 0.2% gain in First Abu Dhabi Bank (FAB) FAB.AD.

FAB, the United Arab Emirates' largest lender, has hired banks to arrange an investor call ahead of an issuance of U.S. dollar-denominated bonds, a document showed.

The planned Additional Tier 1 perpetual bonds are not callable for six years, the document showed.

In Qatar, the index .QSI closed up 0.8%, led by a 10% surge in United Development Company UDCD.QA and a 3.7% rise in Barwa Real Estate Company BRES.QA.

Gulf Warehousing Co GWCS.QA, which is not part of the index, jumped 6.4%, after the firm was approved as first regional supporter and official logistics provider for FIFA World Cup Qatar 2022.

Outside the Gulf, Egypt's blue-chip index .EGX30 rose 0.5%, ending three sessions of losses, led by a 1.8% gain in Commercial International Bank COMI.CA.

SAUDI ARABIA

.TASI lost 0.6% to 8,245 points

ABU DHABI

.ADI added 0.1% to 4,498 points

DUBAI

.DFMGI fell 0.3% to 2,264 points

QATAR

.QSI gained 0.8% to 9,841 points

EGYPT

.EGX30 up 0.5% to 10,963 points

BAHRAIN

.BAX rose 0.2% to 1,443 points

OMAN

.MSI was flat at 3,627 points

KUWAIT

.BKP was up 1% at 6,179 points

(Reporting by Ateeq Shariff in Bengaluru Editing by Tomasz Janowski)

((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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