Mideast stocks dip on trade disputes, Saudi bourse up

Published: September 03, 2018 16:10:10 | Updated: September 05, 2018 17:41:49


Golf markets were weak on Monday amid concerns over the impact that trade disputes involving the United States could affect the global economy and equities, while Saudi Arabia’s shares rose.

The Saudi market inched up, recovering from three consecutive declines. The Saudi index added 0.4 per cent.

However trading volumes remained low, due to global concerns and as many investors are still away from the market, reports Reuters.

Al Rajhi Bank rose 0.8 per cent, petrochemical giant SABIC added 0.6 per cent and real estate developer Jabal Omar jumped 1.3 per cent.

Other markets declined amid lacklustre trading on select stocks.

Dubai index lost 0.4 per cent as property developer Emaar retreated about 0.6 per cent.

In Abu Dhabi, the index shed 0.3 per cent amid weak trading with only four gainers and three losers led by First Abu Dhabi Bank which fell 0.5 per cent.

Qatar followed suit, with the index losing 0.4 per cent. Qatar Commercial Bank fell 1.7 per cent and Masraf Al Rayan declined 0.9 per cent.

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