Dubai and Abu Dhabi markets ended lower on Monday, while Saudi Arabia and Egypt edged up, and crude prices slipped over worries of slowing demand in China.
U.S. stock index futures dipped as Treasury yields continued to rise on expectations of a tighter monetary policy, and most Asian and European markets were closed due to an extended holiday-weekend.
Saudi Arabia’s benchmark index ended higher at 0.4%, helped by gains in financials and healthcare stocks.
“The Saudi stock market recorded small fluctuations as the positive local fundamentals balance out with the risks of oil prices,” said Wael Makarem, senior market strategist – MENA at Exness.
Shares of Sulaiman Alhabib gained 4.8% as the company is set to begin trading ex-dividend on Tuesday.
Egypt’s main share index ended 0.2% higher, helped by materials stocks. EFG Hermes declined 4.5% and was the top drag on the index.
Shares of Alexandria Mineral Oils gained 8.8%, set for their best day in nearly a month, after the firm reported a rise in net profit for the nine-month period.
Dubai’s main share index ended lower at 0.4%, snapping a streak of three-day gains, while Abu Dhabi’s index ended down 0.3%.
Qatar’s benchmark index fell 0.5%, extending losses for the third consecutive session.
SAUDI ARABIA up 0.4% to 13,733
ABU DHABI fell 0.3% to 9,941
DUBAI lost 0.4% to 3,587
QATAR fell 0.5% to 13,928
EGYPT gained 0.2% to 10,725
BAHRAIN down 0.3% to 2,096
OMAN lost 0.1% at 4,254
KUWAIT down 0.8% to 9,095
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