DUBAI: Gulf stock markets put in a mixed performance on Sunday as higher oil prices were offset by worries of faltering demand from China, the world’s top crude importer.
Oil prices - a major driver of Gulf financial markets - rose about 2% on Friday as Iraq voiced support for OPEC+ oil cuts ahead of a meeting of the group on Nov. 26. Brent futures settled at $81.43 a barrel.
The Qatari index snapped a three-session losing streak on Sunday with a 0.3% gain. Masraf Al Rayan and Qatar Fuel each rose 1.4%.
Saudi Arabia’s benchmark index extended losses to a fourth consecutive session, easing 0.1%, with Fawaz Abdulaziz Alhokair Co falling 9.9% in its steepest drop in more than 13 months.
The retailer reported a third-quarter net loss of 202.9 million riyals ($54.1 million) compared to a net profit of 21.1 million riyals a year earlier.
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