DUBAI: 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 fell 0.6%, with Al Rajhi Bank losing 1% and oil giant Saudi Aramco down 0.8%.
Dubai’s main share index slipped 0.3%, hurt by a 2.3% fall in Emirates NBD Bank and a 0.4% drop in Mashreq Bank.
The Abu Dhabi index edged up 0.1%, supported by a 1.1% rise in Abu Dhabi Commercial Bank and a 0.2% gain in First Abu Dhabi Bank (FAB).
FAB, the United Arab Emirates’ largest lender, has hired banks to arrange an investor call ahead of an issuance of US 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 closed up 0.8%, led by a 10% surge in United Development Company and a 3.7% rise in Barwa Real Estate Company.
Gulf Warehousing Co, 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 rose 0.5%, ending three sessions of losses, led by a 1.8% gain in Commercial International Bank.
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