DUBAI: Middle Eastern stock markets were mixed on Monday, as oil prices dipped, with Egypt’s blue-chip index tumbling more than 1% to mark its steepest fall in nearly three weeks.
Oil prices fell as signs of a progress in the US-Iran nuclear talks that could lead to removal of US sanctions on Iranian oil sales offset concerns about the tight supplies.
Outside the Gulf, Egypt’s blue-chip index fell 1.2%, marking its biggest fall since Jan 19.
Saudi Arabia’s benchmark index closed 0.4% higher, boosted by material and energy stocks.
Dubai’s main share index ended up 0.6%, driven by index heavyweight Emirates NBD Bank and Dubai Investments PJSC.
Shares of Dubai Islamic Bank gained 0.5% after a document showed the United Arab Emirates’ largest Islamic lender has hired banks to arrange a sale of five-year US dollar-denominated sukuk.
In Abu Dhabi, the index was flat.
The Qatari index ended 0.04% lower, after rising for the five straight sessions, as losses in energy stocks offset gains in utilities.
SAUDI ARABIA up 0.4% to 12,249
ABU DHABI ended flat at 8,734
DUBAI added 0.6% to 3,188
QATAR ended flat at 12,672
EGYPT dips 1.2% to 11,548
BAHRAIN was up 0.4% to 1,841
OMAN was flat at 4,133
KUWAIT ended flat at 8,04.
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