DUHAI: Major stock markets in the Gulf ended higher on Sunday, boosting investor morale as earnings season in the region heated up, although a decline in oil prices weighed on sentiment.
Saudi Arabia’s benchmark index edged 0.1% higher, with aluminium product manufacturer Al Taiseer Group rising 0.3% and Al Rajhi Bank closing 0.7% higher.
Among other gainers, Saudi Arabian Amiantit advanced 5.2% after the pipe manufacturer swung to a quarterly profit of 5.1 million riyals ($1.36 million), from a loss of 10.1 million riyals a year earlier.
Elsewhere, Saudi Tadawul Group - the owner of the Saudi Exchange - gained 1.8%, following a sharp rise in quarterly profit.
On the other hand, Sahara International Petrochemical eased 0.7% after reporting a fall in quarterly net profit.
Comments
Comments are closed.