DUBAI: Saudi Arabian shares closed higher on Tuesday, snapping three straight sessions of losses, while major Gulf stock markets ended the day mixed.
Saudi Arabia’s benchmark index closed about 0.8% higher after three days of declines triggered by regional tensions with Yemen’s Iran-aligned Houthis, who claimed responsibility for drone attacks in several parts of the kingdom, including at Saudi Aramco facilities in Jeddah.
Market-heavyweight Al Rjahi Bank rose 2.1% and Saudi Arabian Mining jumped 4.5%, while the oil giant Saudi Aramco gained 1%.
In Abu Dhabi, the index gained nearly 0.8% as Emirates Telecommunications Group (Etisalat) increased 2.8% and International Holding Company rose 2%.
Etisalat rose for a third straight day, riding on last week’s agreement to acquire Dubai-based grocery delivery platform elGrocer DMCC.
The Dubai index fell 0.9% in its third straight day of decline, as property and financial shares weighed the most.
Emaar Properties, which completed a merger with its shopping malls operator unit Emaar Malls, fell 2%, while lenders Dubai Islamic Bank and Emirates NBD dropped 1.9% and 1.8%, respectively.
The Qatari index closed 0.1% lower. Islamic lender Masraf Al Rayan led losses, falling 1.5%, while Industries Qatar added 0.7%.
Outside the Gulf, the Egyptian blue-chip index edged up 0.1%. Real estate investor TMG Holding and investment bank EFG Hermes Holdings climbed 2.5% and 1.6%, respectively.
However, the gains were capped by a 0.6% fall in the country’s largest lender Commercial International Bank Egypt .
SAUDI ARABIA rose 0.8% to 11,256
ABU DHABI added 0.8% to 8,407
DUBAI eased 0.9% to 3,144
QATAR was down 0.1% to 11,796
EGYPT gained 0.1% to 11,369
BAHRAIN inched down 0.1% to 1,786
OMAN down 0.3% to 4,051
KUWAIT lost 0.3% to 7,7775.
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