Most major Gulf markets up but Abu Dhabi eases
- Saudi Arabia's benchmark index was up 0.1pc, with Al Rajhi Bank rising 1.1pc, while Jarir Marketing increased 1.2pc, extending gains from the previous session.
Most major Gulf indexes were firm in early trade on Wednesday, but the Abu Dhabi index was hurt by a fall in the country's largest lender.
Saudi Arabia's benchmark index was up 0.1pc, with Al Rajhi Bank rising 1.1pc, while Jarir Marketing increased 1.2pc, extending gains from the previous session.
On Tuesday, the Saudi retailer proposed a dividend of 1.70 riyal per share for the second quarter, versus 1.40 riyal a year earlier.
Dubai's main share index edged up 0.2pc, with Emirates NBD Bank gaining 1.3pc and DAMAC Properties was up 1.9pc. Air Arabia added 0.9pc.
The United Arab Emirates' only listed airline retreated 1.8pc on Tuesday after it swung to a second-quarter loss of 239 million dirhams ($65.07 million) following a collapse in passenger traffic because of the COVID-19 pandemic.
In Abu Dhabi, the index slipped 0.1pc, hurt by a 0.2pc fall in the country's largest lender First Abu Dhabi Bank.
The Qatari index gained 0.3pc, led by a 2pc increase in utility firm Qatar Electricity and Water and a 0.6pc rise in petrochemical maker Industries Qatar.
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