Saudi, Egypt fall as markets reopen after weekend; Qatar edges up

An investor displays a display screen displaying inventory info on the Abu Dhabi Securities Change June 25, 2014./File Picture

Could 22 (Reuters) – Saudi Arabia’s inventory market fell for a second consecutive session on Sunday, below strain from decrease banking and petrochem shares, whereas Qatar rebounded after falling greater than 2% within the earlier session.

Saudi Arabia’s benchmark index (.TASI) dropped 0.8%, extending Thursday’s losses, with Saudi Nationwide Financial institution (1180.SE) down 2.6% and oil behemoth Saudi Aramco (2222.SE) down 1.4%.

Aramco, on a par with Apple Inc (AAPL.O) because the world’s most precious firm, final week reported a web revenue of $39.5 billion for the quarter to March 31, up from $21.7 billion a 12 months earlier. learn extra

Kingdom Holding (4280.SE) jumped 9.9%, its greatest each day achieve since early June final 12 months, after Saudi billionaire Prince Alwaleed bin Talal signed an settlement with sovereign wealth fund PIF to promote 16.87% of his funding within the agency for a complete of 5.68 billion riyals ($1.51 billion).

Qatar’s index (.QSI), edged up 0.1%, discovering some assist from financials and vitality shares after dropping greater than 2% on Thursday.

Islamic lender Masraf al Rayan (MARK.QA) added 1.7% whereas Qatar Gasoline Transport Nakilat (QGTS.QA) rose 2.7%.

Germany and Qatar on Friday signed a declaration to deepen their vitality partnership, with a deal with commerce in hydrogen and liquefied pure gasoline (LNG), as Europe’s greatest financial system seems for different provides amid Russia’s invasion of Ukraine. learn extra

Exterior the Gulf, Egypt’s blue-chip index (.EGX30) ended 0.8% decrease because the nation’s largest lender, Industrial Worldwide Financial institution, (COMI.CA), fell 0.7% and Abu Qir Fertilizers (ABUK.CA) was down 2.3%.

($1 = 3.7510 riyals)

($1 = 3.6580 Qatar riyals)

Reporting by Shamsuddin Mohd in Bengaluru; Enhancing by Kirsten Donovan

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