* Nine of eleven Saudi banks gain * Sipchem surges on share buyback proposal * Qatar snaps a four-day winning streak * 23 of thirty stocks in Egypt decline By Ateeq Shariff Dec 9 Most Gulf stock markets were in the red on Monday with Qatar leading losses as oil prices fell, while gains in banking shares supported the Saudi index. Oil prices dropped on Monday after data showed Chinese exports declined for a fourth straight month, sending jitters through a market already concerned about damage to global demand by the trade war between Washington and Beijing. In Saudi Arabia, the benchmark index rose a further 0.3%, a day after it saw its biggest gain in a year. On Sunday, the index climbed 2.4% as the kingdom spearheaded a deal on Friday where OPEC and its allies agreed to extend production cuts by 500,000 barrels per day to support oil prices. National Commercial Bank gained 2.2% and Samba Financial Group increased 2.3%. Elsewhere, Sahara International Petrochemical (Sipchem) jumped 4.2% after it's board proposed to purchase up to 10% of ordinary shares and hold them as treasury shares. Qassim Cement climbed 4.1% following its board proposal for a third-quarter cash dividend of 1 riyal per share. Meanwhile, Saudi Aramco is listing its shares on Wednesday on the Saudi exchange after completing the largest IPO on record. Aramco priced its IPO at 32 riyals ($8.53) per share, the top of its indicative range, the company said in a statement last week, raising $25.6 billion and beating Alibaba Group Holding Ltd's record $25 billion listing in 2014. However, the Qatari index lost 1%, snapping four straight days of gains, as declining stocks on the index outnumbered the gainers. The Gulf's largest lender Qatar National Bank retreated 2.4%, whereas Industries Qatar was down 1.9%. In Dubai, the index fell 0.4% with Emaar Properties shedding 1.5% and logistic firm Aramex down 2.5%. The Abu Dhabi index was also down 0.4% as telecoms firm Etisalat closed 0.9% down, while Abu Dhabi Commercial Bank ended down 1.1%. Egypt's blue-chip index decreased 0.4% with 23 of its 30 stocks declining. EFG Hermes slid 3.4% and Eastern Company eased 1.3%. Exchange data on Monday showed foreign investors as net sellers of Egyptian stocks. ** Bahrain was closed for a public holiday. SAUDI ARABIA rose 0.3% to 8,120 points ABU DHABI fell 0.4% to 5,023 points DUBAI down 0.4% to 2,684 points QATAR declined 1% to 10,277 points EGYPT down 0.4% to 13,443 points OMAN slipped 0.1% to 4,021 points KUWAIT added 0.6% to 6,747 points (Reporting by Ateeq Shariff in Bengaluru; Editing by Bernard Orr)
* Mesaieed gains after tax exemption * Anaam surges on capital increase * Sidi Kerir sees biggest fall in over 2-months * Financials weak in Dubai, Abu Dhabi By Ateeq Shariff Dec 5 Qatar outperformed other Gulf stock markets Thursday, while the Egypt bourse slipped as most of its blue-chip stocks fell. The Qatari index rose 0.8%, with Qatar Islamic Bank up 3% and Mesaieed Petrochemical 0.8% higher after it said it had received an income tax exemption and a tax refund of 170 million riyals ($46.7 million). In Saudi Arabia, the benchmark index rose 0.4% with National Commercial Bank and Riyad Bank gaining 2% and 1.7% respectively. Elsewhere, Anaam Holding soared 9.9%, the top gainer on the index, a day after its board proposed a capital increase through a rights issue. Meanwhile Saudi Aramco's bookrunners have recommended pricing its initial public offering at 32 riyals ($8.5) per share, the top of an indicated price range, Reuters reported, citing three sources familiar with the deal. Egypt's blue-chip index was off 0.1% as Sidi Kerir Petrochemical fell 6.8%, its biggest drop since late-September. The firm said that its estimated investment budget for 2020 is 6.88 billion Egyptian pounds ($428.39 million). In Dubai, the index closed flat as developer Emaar Properties gained 0.7% while Emirates NBD Bank was down 0.4%. The Abu Dhabi index was also flat with Emirates Telecommunications adding 0.4%, but Abu Dhabi Commercial Bank was off 0.9%. Growth in United Arab Emirates' non-oil private sector slowed to a 10-year low in November and companies saw the first monthly decline in new orders on record, a survey showed. SAUDI ARABIA rose 0.4% to 7,906 points ABU DHABI was flat at 5,047 points DUBAI was also flat at 2,695 points QATAR rose 0.8% to 10,358 points EGYPT down 0.1% to 13,622 points BAHRAIN added 0.2% to 1,547 points OMAN slipped 0.3% to 4,029 points KUWAIT was up 0.2% at 6,656 points ($1 = 3.6400 Qatar riyals) ($1 = 3.7500 riyals) ($1 = 16.0600 Egyptian pounds) (Reporting by Ateeq Shariff in Bengaluru; Editing by Alexander Smith)
* Banking stocks firm in Saudi * All property shares gain in Dubai * Qatar snaps three days of losses * 24 of 30 Egyptian stocks slide By Ateeq Shariff Nov 25 All major Gulf bourses rose on Monday, taking a cue from global equity markets as investors turned optimistic about some progress in U.S.-China trade talks, but Egypt remained pressured due to sell-off in blue chip stocks. A Chinese state-backed newspaper reported that Beijing and Washington were "very close" to an initial trade agreement, adding to optimism from Friday, when the presidents of both countries reiterated their desire for a deal. In Saudi Arabia, the benchmark index edged up 0.2%, driven by a 2.9% hike in Saudi British Bank and a 0.5% increase in Al Rajhi Bank. In the previous session, the index snapped a five-day rally, which was triggered following a lending boom related to Saudi Aramco's public listing. Saudi banks are marketing loans to help locals subscribe Saudi Aramco's initial public offering (IPO), with some offering four times the usual lending limit, Reuters reported citing two financial sources. The jump in lending has prompted Saudi Arabia's central bank to monitor banking sector liquidity on a daily basis assuring that there have not been any liquidity issues so far. Also, rating agency Moody's on Monday said that the outlook for Gulf Cooperation Council (GCC) banks is stable except for Oman. However, the Oman's index traded flat. The Abu Dhabi index closed up 1%, led by a 0.7% rise in the country's largest lender First Abu Dhabi Bank and a 1.2% gain in telecoms firm Etisalat. In Dubai, the index ended 0.7% as all its real estate stocks rose with Emaar Properties gaining 1.2%, while its unit Emaar Development was up 2.5%. Among other stocks, logistic company Aramex advanced 2.8%. On Sunday, Dubai posted a 2.1% year on year economic growth in the first half of 2019, with real estate activity having grown also by 2.1% in the same period and contributed nearly 7.4% to the total GDP. The Qatari index was up 0.6%, snapping three straight days of losses, with Commercial Bank increasing 2.3%, while Qatar International Islamic Bank added 1.8%. Outside of Gulf, Egypt's blue-chip index dropped 0.5%, with 24 of its 30 stocks declining. The country's largest lender Commercial International Bank fell 0.5% and Talaat Mostafa slid 3.1%. SAUDI ARABIA The index edged up 0.2% to 8,014 points ABU DHABI The index gained 1% to 5,091 points DUBAI The index added 0.7% to 2,705 points QATAR The index was up 0.6% to 10,311 points EGYPT The index down 0.5% to 13,974 points BAHRAIN The index increased 1% to 1,521 points OMAN The index was flat at 4,083 points KUWAIT The index rose 1.3% to 6,421 points (Reporting by Ateeq Shariff in Bengaluru; Editing by Rashmi Aich)
* Financial shares weak in Abu Dhabi * All property stocks but one dip in Dubai * Alinma Bank appoints new chairman * 22 of 30 stocks decline in Egypt By Ateeq Shariff Nov 21 Most Major Gulf stock markets fell on Thursday, weighed down by financial stocks and falling oil prices, while Egypt extended a losing streak to a fourth day. Oil prices edged lower as fresh tensions between the United States and China over protests in Hong Kong fuelled concern that a deal to end a trade war between the world's top two economies may be further delayed. The Abu Dhabi stock index was down 1%, with First Abu Dhabi Bank, the largest lender in the United Arab Emirates, dropping 0.8% and Abu Dhabi Commercial Bank falling 1%. International Holding (IHC) was down 5.7%. Egypt's blue-chip index traded 0.9% lower with 22 of its 30 stocks in the red, including Commercial International bank down 2.4% and Credit Agricole Egypt down 2.3%. Exchange data on Thursday showed foreign investors as net sellers of Egyptian stocks. In Dubai, the index dropped 0.7% with Emaar Properties losing 1.2% and lender Emirates NBD down 0.8%. In the real estate sector, Arabtec Holding tumbled 9.9%, while DAMAC Properties fell 3.8%. Last week, Arabtec said it fell to a third-quarter loss from a profit a year earlier, while DAMAC reported a steep fall in profit for the same period. Dubai's average property prices are seen declining 10% this year and another 5% next year, according to a Reuters poll of property market experts. The economy in Dubai is heavily reliant on global trade, which has been under pressure from the U.S.-China trade war. Qatar's index fell 0.7% as Qatar Islamic Bank lost 2.2%, the biggest loser on the index, and Qatar National Bank slipped 0.6%. Saudi Arabia's benchmark index edged up 0.1% with Al Rajhi Bank gaining 1.3% and Alinma Bank adding 0.4% after appointing Abdulmalik bin Abdullah Alhogail as chairman. SAUDI ARABIA The index rose 0.1% to 8,063 points ABU DHABI The index dropped 1% to 5,042 points DUBAI The index lost 0.7% to 2,684 points QATAR The index fell 0.7% to 10,267 points EGYPT The index fell 0.9% to 14,095 points BAHRAIN The index was down 0.3% to 1,506 points OMAN The index slipped 0.1% to 4,083 points KUWAIT The index traded flat at 6,314 points (Reporting by Ateeq Shariff in Bengaluru; Editing by Kirsten Donovan)
* Air Arabia rallies on Airbus deal * IHC sees biggest gain in a month * Arabian Centres rises on Islamic facilities By Ateeq Shariff Nov 20 Bank stocks helped support markets in the United Arab Emirates on Wednesday, while Egypt's blue-chip index extended losses for a third straight session. Dubai's index edged up 0.1% supported by Emirates NBD and Emaar Malls, which were up 0.4% and 1.6% respectively. Air Arabia closed up 1.4%, stretching its winning streak to a third day. On Monday, the budget airline announced an order for 120 Airbus A320neo-family jets in a deal worth about $14 billion. However, the market's gains were capped by losses at real estate sector with Arabtec Holding falling 4.7%, the biggest loser on the index. On Friday, the contractor swung to a third-quarter loss, compared with a profit a year earlier. In Abu Dhabi, the index was also up 0.1% with First Abu Dhabi Bank adding 0.3% and International Holding Company(IHC) soaring 8.9%, its biggest intraday gain since mid-October. On Tuesday, IHC called off an acquisition of SHUAA Capital International. Outside the Gulf, Egypt's blue-chip index lost 0.6%. The country's largest lender, Commercial International Bank, dropped 1.6% and Madinet Nasr was down 2.2%. However, the index received some support from Eastern Company which rose 0.9%. Saudi's benchmark index rose marginally to close up 0.1% as Saudi Basic Industries gained 0.7% and Savola Group climbed 3%. Arabian Centres advanced 2%. The Saudi mall operator obtained $1.4 billion in sharia-compliant financing facilities with a syndicate of banks. The Qatari index traded flat with financial shares and petrochemical stocks moving sideways. Qatar International Islamic Bank slid 3.2%, while Mesaieed Petrochemical gained 1.2%. SAUDI ARABIA The index inched up 0.1% to 8,054 points ABU DHABI The index added 0.1% to 5,093 points DUBAI The index edged up 0.1% to 2,704 points QATAR The index was flat at 10,337 points EGYPT The index down 0.6% to 14,224 points BAHRAIN The index increased 0.2% to 1,509 points OMAN The index traded flat at 4,086 points KUWAIT The index was up 0.2% at 6,546 points (Reporting by Ateeq Shariff in Bengaluru; Editing by Pravin Char)
* Financials strong in Abu Dhabi * Al Kathiri continues to soar on main market * Air Arabia gains on order * Arabtec rises after unit wins contract By Ateeq Shariff Nov 19 Abu Dhabi stocks outperformed other Gulf markets on Tuesday, led by financial-services and telecoms shares, while Egypt was hit by sell-off among blue chips. The Abu Dhabi index advanced 0.8%, led by a 1.7% gain by Emirates Telecommunications and a 0.7% rise in the United Arab Emirates' largest bank, First Abu Dhabi Bank . International Holding jumped 4.8%. After the market closed, the aquaculture company said that it was calling off an acquisition of SHUAA Capital International. Saudi Arabia's benchmark index extended gains for a third day, to end 0.6% higher. The kingdom's largest petrochemical maker, Saudi Basic Industries, rose 2.4%. Savola Group was up 3.2%. Among other stocks, Al Kathiri Holding soared 9.9%, to become the top gainer on the index. The shares were moved to the main market on Nov. 3, and since then have risen over 86%. The Dubai index closed up 0.7%. Emaar Properties gained 1.7%; Emirates NBD was up 0.4%. Air Arabia added 1.5%, a day after the budget airliner announced an order for 120 Airbus A320neo-family jets in a deal worth about $14 billion. The contractor Arabtec Holding gained 3.5% after seeing its biggest fall in six months the day before on third-quarter losses. On Tuesday, its unit Arabtec Construction won a 366 million-dirham ($99.65 million) construction contract in Egypt. After trading hours, Dubai Islamic Bank called s board meeting on Nov. 25 to discuss acquisition of Noor Bank. The sharia-compliant lender was down 0.4%. The Qatari index rose 0.4% with Qatar Islamic Bank and Masraf Al Rayan rising 1.3% and 0.8% respectively. Outside the Gulf, Egypt's blue-chip index traded in the red for the second day. The index was down 0.5% with Commercial International bank losing 0.3% and El Sewedy Electric dropping 1.8%. Exchange data on Tuesday showed Egyptian and Arab investors were net sellers of Egyptian stocks. SAUDI ARABIA The index rose 0.6% to 8,045 points ABU DHABI The index was up 0.8% to 5,087 points DUBAI The index gained 0.7% to 2,701 points QATAR The index added 0.4% to 10,340 points EGYPT The index down 0.5% to 14,313 points BAHRAIN The index was up 0.3% at 1,507 points OMAN The index was flat at 4,087 points KUWAIT The index increased 0.5% to 6,309 points ($1 = 3.6727 UAE dirham) (Reporting by Ateeq Shariff in Bengaluru)
* Abu Dhabi sees biggest fall in over 3 months * Aldar falls for a fourth straight day * Emirates NBD rallies on unit's stake sale * Saudi Paper Manufacturing gains on grant approval By Ateeq Shariff Nov 17 Abu Dhabi's stock market fell sharply on Sunday, weighed down by the country's largest lender First Abu Dhabi Bank, while other Gulf markets were mostly flat. In Abu Dhabi, the index slid 1.5%, its biggest fall since August, as First Abu Dhabi Bank (FAB) retreated 2.4%, while telecoms firm Emirates Telecommunications was down 1.2%. Among other stocks, Aldar Properties declined 2.7%, extending losses for a fourth straight session. The property developer reported on Nov. 12 a near 8% drop in third-quarter profit. Arqaam Capital had a net profit forecast of 435 million dirhams and EFG Hermes had projected 429 million dirhams, whereas the firm reported a net profit of 387 million dirhams. In Saudi Arabia, the index reversed course to gain 0.1% driven by a 2.4% rise in Al Rajhi Bank and a 0.9% increase in Alinma Bank. Elsewhere, Saudi Paper Manufacturing advanced 2.9% following an approval for a 52 million riyals ($13.87 million) grant. Separately, Saudi Aramco set a price range for its listing that implies the oil giant is worth between $1.6 trillion to $1.7 trillion, below the $2 trillion the Saudi crown prince had targeted but still making it potentially the world's biggest IPO. Aramco said on Sunday it plans to sell 1.5% of its shares or about 3 billion shares, at an indicative price range of 30 riyals ($8.00) to 32 riyals - valuing the IPO at as much as 96 billion riyals ($25.60 billion) at the top end of the range. Dubai's index edged up 0.1%, led by a 4.7% leap in Emirates NBD. On Wednesday, the emirate's largest lender confirmed the sale of 31 million shares in Network International Holdings for 160 million pounds ($205 million). Union Properties rose 2% after reporting third-quarter losses that were narrower than in the previous quarter. However, the gains were capped by losses in Arabtec Holding , which dived 9.6%, its biggest fall since May. The Dubai-listed contractor swung to a third-quarter loss of 437.4 million dirhams ($119.09 million), compared with a profit of 67.5 million dirhams a year ago. The Qatari index was down 0.5% with the Gulf's largest lender Qatar National Bank decreasing 1.1% and Industries Qatar losing 1%. Outside of the Gulf, Egypt's blue-chip index edged up 0.1% with Commercial International Bank adding 0.7%. However, Sidi Kerir Petrochemicals closed down 6.4%, stretching its losing streak for a fifth session. On Tuesday, the firm reported a steep fall in its nine-month net profit. SAUDI ARABIA The index rose 0.1% to 7,928 points ABU DHABI The index slid 1.5% to 5,061 points DUBAI The index edged up 0.1% to 2,705 points QATAR The index lost 0.5% to 10,317 points EGYPT The index up 0.1% to 14,556 points BAHRAIN The index fell 0.4% to 1,499 points OMAN The index added 0.2% to 4,093 points KUWAIT The index edged up 0.1% to 6,263 points ($1 = 0.7815 pounds) ($1 = 3.7501 riyals) (Reporting by Ateeq Shariff in Bengaluru; Editing by Susan Fenton)
* Middle East Health care jumps on strong Q3 earnings * All but one Saudi Arabian banks gain * Credit Agricole Egypt rises on 9-month financials * Masraf Al Rayan gains on sukuk issuance By Ateeq Shariff Nov 7 Major Gulf markets were mixed on Thursday in lacklustre trading, with banking shares and corporate earnings making the Saudi index the biggest gainer, while Egypt's bourse rebounded on gains in financial stocks. Saudi Arabia's benchmark index was up 0.6%, with Al Rajhi Bank gaining 1.2% and Samba Financial Group advancing 3.1%. Saudi Basic Industries was up 1.1% despite HSBC slashing its target price to 78 riyals ($20.80) from 80 riyals. Middle East Healthcare surged 6.1% after posting a sharp rise in third-quarter net profit. The hospitals operator attributed the surge to a decrease in general and administrative expenses. National Medical Care added 2.2% as the firm posted a surge of more than 45% in third-quarter net profit. The Egyptian blue-chip index rebounded 0.6%, a day after it took a breather to snap a nine-day winning streak. Commercial International Bank increased 0.6%. The country's largest lender on Tuesday reported a 23% increase in third-quarter profit. Non-Arab foreigners were net buyers of the stocks during the session, while Egyptians were net sellers, according to data on the exchange website. Among other stocks, Credit Agricole Egypt closed 1.3% higher after posting a nine-month net income of 1.87 billion Egyptian pounds ($116.22 million), compared to 1.68 billion year ago. In Dubai the index reversed course to close up 0.4% with blue-chip developer Emaar Properties and Emirates NBD rising 1% and 0.4% respectively. On Wednesday, Moody's said that the United Arab Emirates' banking outlook is stable on resilient credit profiles in subdued economy. The Abu Dhabi index slipped 0.3% with the country's largest lender First Abu Dhabi Bank losing 0.4% and Emirates Telecommunications down 0.5%. Industries Qatar was the main drag on the Qatari index, which edged down 0.1%, but gains in other blue-chips capped losses. Masraf Al Rayan rose 1% the day after it issued $500 million sukuk, or Islamic bonds, with five-year term, part of a $2 billion sukuk programme. SAUDI ARABIA The index rose 0.6% to 7,798 points ABU DHABI The index lost 0.3% to 5,131 points DUBAI The index added 0.4% to 2,699 points QATAR The index slipped 0.1% to 10,275 points EGYPT The index fell 0.6% to 14,796 points BAHRAIN The index edged up 0.1% to 1,518 points OMAN The index gained 0.3% to 4,041 points KUWAIT The index was up 0.3% at 6,179 points ($1 = 3.7501 riyals) ($1 = 16.0900 Egyptian pounds) (Reporting by Ateeq Shariff in Bengaluru; Editing by Kirsten Donovan)
* FAB sees its biggest gain in over 3 months * Savola rallies after reporting Q3 profit * Al Hokair Group slides after posting Q3 loss * DAMAC drops as declares no dividend By Ateeq Shariff Oct 30 Abu Dhabi stocks rebounded on Wednesday, outperforming regional peers after a surge in First Abu Dhabi Bank, while Saudi snapped a three-day losing streak on corporate earnings announcements. The Abu Dhabi index bounced back 1.9% after it lost 1.2% in the previous session, with market heavyweight First Abu Dhabi Bank (FAB) surging 3.4%. The largest lender in the United Arab Emirates saw its biggest intraday gain since July, a day after it announced the opening of a new branch in Saudi's Al Khobar. Another branch is scheduled to open soon in Jeddah. On Oct. 24 the lender also reported single-digit growth in third-quarter net profit, broadly in line with analyst forecasts. In Saudi Arabia, the benchmark index gained 1.3%, with Al Rajhi Bank increasing 2.4% and National Commercial Bank up 1.6%. Savola Group extended gains from the previous session, jumping 5.5%. On Monday, the conglomerate reported third-quarter net profit of 221.8 million riyals ($59.14 million) versus a net loss of 50.7 million riyals a year earlier. The firm attributed the gains to higher sales and margins, an increase in the share of profits from associates and lower currency exchange losses. PetroRabigh gained 3.2%, a day after it posted a more than 62% rise in third-quarter net profit, which it said was due to an improved profit margin for refined products and an improved operational performance. However, Abdulmohsen Al Hokair Group For Tourism And Development plunged 4.8% after posting a third-quarter net loss of 15.5 million riyals, compared with a net profit of 1.9 million a year earlier. The Dubai Financial Market General Index was up 0.6%, led by gains in the real estate sector. Blue-chip developer Emaar Properties climbed 2.4% and Dubai Islamic Bank, the United Arab Emirates' largest sharia-compliant lender, closed 0.6% up. But, DAMAC Properties declined 1.1% after it announced no dividend due to low profitability and a weak market. Among other stocks, UAE telecoms company du declined 2% after reporting a drop in third-quarter net profit. Qatar's index rose 0.6%, with market heavyweight Industries Qatar and Qatar Islamic Bank gaining 1.6% and 1.2% respectively. Egypt's blue-chip index edged up 0.1%, aided by gains in Sidi Kerir Petrochemicals, which soared 10.4%. SAUDI ARABIA The index rose 1.3% to 7,793 points ABU DHABI The index gained 1.9% to 5,173 points DUBAI The index added 0.6% to 2,755 points QATAR The index was up 0.6% to 10,284 points EGYPT The index up 0.1% to 14,478 points BAHRAIN The index lost 0.2% to 1,522 points OMAN The index edged up 0.2% to 4,013 points KUWAIT The index was down 0.8% at 6,231 points ($1 = 3.7502 riyals) (Reporting by Ateeq Shariff in Bengaluru; Editing by Mark Potter)
* All but one financial stocks gain in Egypt * Bank Aljazira, Zahrat Al Waha up on Q3 earnings * FAB's Q3 profit in line with analysts' estimates * Qatar snaps four day losing streak By Ateeq Shariff Oct 24 The Egyptian stock market rebounded on Thursday, getting a boost from financials, while most major Gulf markets were little changed. The Egyptian blue-chip index rose 0.6%, with 23 of its 30 stocks in the black. Non-Arab foreigners were the net buyers of the stocks during the session, while Egyptians were the net sellers, according to data on the exchange website. Tobacco products maker Eastern Company climbed 2.8%, while EFG Hermes leapt 3.1%. Among other stocks, Egypt's Citadel Capital climbed 3.8%. Earlier this week, the company's chairman told Reuters that Citadel will raise its refinery production capacity to 5.5 million tonnes of oil products per year in 2021 from 4.2 million now. In Saudi Arabia, the benchmark index was up 0.3%, with Saudi British Bank advancing 2% and Bank Al Jazira ending 0.9% higher. On Wednesday, the latter reported a near 4% rise in third-quarter net profit, underpinned by a jump in operating income. Shares of National Commercial Bank, the kingdom's largest lender, were little changed even as it posted a quarterly net profit of 2.55 billion riyals, up 20% compared with the same period last year. Zahrat Al Waha For Trading firmed 4.1%, its biggest percentage jump since July, after it reported a rise in third-quarter net profit. In Abu Dhabi, the benchmark index added 0.2%, extending gains to a fourth straight session, with First Abu Dhabi Bank (FAB) strengthening 0.8%. Post trading hours, United Arab Emirates' largest lender reported a 3% rise in third-quarter profit, broadly in line with analysts' estimates. The Qatari index reversed course to close 0.2% higher, snapping a four-day losing streak, supported by gains in blue-chip stocks. Gulf's largest lender Qatar National Bank was up 0.6%, while Qatar Fuel rose 1.2%. Dubai's benchmark index edged up 0.1%, with blue-chip developer Emaar Properties and its unit Emaar Malls gaining 1.1% and 1%, respectively. SAUDI ARABIA The index rose 0.3% to 7,913 points ABU DHABI The index added 0.2% to 5,163 points DUBAI The index edged up 0.1% to 2,784 points QATAR The index gained 0.2% to 10,378 points EGYPT The index up 0.6% to 14,207 points BAHRAIN The index was up 0.1% at 1,526 points OMAN The index slipped 0.2% to 3,990 points KUWAIT The index was flat at 6,285 points ($1 = 3.7504 riyals) (Reporting by Ateeq Shariff in Bengaluru; Editing by Aditya Soni)
Chinese President Xi Jinping met Hong Kong leader Carrie Lam in Beijing on Monday, saying he recognised her courage to govern the Asian financial hub in these "most difficult" times.