MIDEAST STOCKS-Major Gulf Stock Exchanges on Mixed Start

April 25 (Reuters) – Major Gulf markets were mixed in early trading on Sunday, with the Saudi index on track to extend gains from the previous session, helped by healthcare and petrochemicals stocks .

Saudi Arabia’s benchmark rose 0.3%, with Dr Sulaiman Al-Habib Medical Services advancing 1.8% and Saudi Kayan Petrochemical jumping 4.4%.

The petrochemical company posted a net profit of 492.9 million riyals in the first quarter compared to a loss of 516.8 million riyals a year earlier. Dubai, the main stock index, fell 0.1%, hit by a 0.3% drop from blue-chip developer Emaar Properties and 0.6% from Dubai Investments.

The Abu Dhabi index added 0.1%, supported by a 0.5% gain by telecommunications giant Etisalat.

The telecommunications operator is expected to tap the international bond market in the coming days ahead of a bond maturity of 1.2 billion euros ($ 1.45 billion) in June, Reuters reported, citing three sources familiar with the matter. The United Arab Emirates has suspended all inbound flights from India due to an increase in coronavirus infections there, the Arab Emirates’ National Crisis and Disaster Management Authority (NCEMA) said on Thursday. United. Qatar, the benchmark, lost 0.3%, Commercial Bank down 0.9%, while Qatar Islamic Bank fell 0.3%.

(1 USD = 0.8265 euros)

About William G.

Check Also

A Beginner’s Guide to Cryptocurrency Trading

A cryptocurrency exchange is a platform that allows users to exchange various currencies and cryptocurrency …