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From Shakil Ahmed and Maqsood Alam
(Reuters) – The Saudi stock index posted its worst overnight loss in a month on Sunday after a spate of mediocre results, while Emaar Properties propelled Dubai's stock market to a record high. from one year.
The main index of Saudi Arabia fell by 1.5%, its worst daily performance since June 24, all listed banks having fallen. Al Rajhi Bank fell 3%, the most heavily on the index.
Saudi Basic Industries Corp. (SABIC), the world's fourth largest producer of petrochemicals, fell 1.6%, extending its losses from the previous session, after the company posted its lowest quarterly profit since the end of 2009 .
Dallah Health Services Holding is down 6% after the company announced a decline in earnings in the second quarter, penalized by rising operating and financing costs.
Halwani Brothers fell 2.3%, after the food industry turned to a loss in the second quarter, due to the high cost of goods sold in the kingdom and the increase in sales and distribution expenses. Egypt.
The Dubai index rose 1.2% to 2,881 points, its highest level since August 12, 2018, supported by real estate values, all of which rose.
Emaar Properties jumped 3.9% to its highest level since August 7th of last year. Shares have risen in five of the last six sessions, after the largest real estate company of the emirate has signed a memorandum of understanding for an $ 11 billion project on the new Beijing Giant Airport .
The Dubai Financial Market Index rose 6.2%, posting gains for six sessions after the company managing the emirate's stock market posted higher earnings in the second quarter.
The Abu Dhabi index ended up 0.3%, recovering from the defeat of the previous session after the recovery of eight days.
The largest bank in Abu Dhabi, the largest in the United Arab Emirates, gained 0.5%, while Etisalat rose 0.3%.
But Abu Dhabi Commercial Bank lost 1%, ending eight consecutive sessions. The bank posted an 11% drop in second-quarter earnings in the first consolidated results following its merger with Union National Bank and the smaller Crescent Bank.
The Qatar index rose 0.3%, offsetting its initial losses, the National Bank of Qatar gaining 1%, while the Qatar Commercial Bank rose 1.3%.
First Qatar Bank lost 3.3% to limit market gains after persistent losses in the first half.
The main Egyptian stock index fell 0.3%, with Citadel Capital holding 3.3%.
Here are the closing levels of the Arab stock market indices on Monday:
Saudi Arabia .. The index fell 1.5% to 8729 points.
The index rose 0.3% to 5,363 points.
The index rose 1.2% to 2,881 points.
Qatar: The index rose 0.3% to 10,603 points.
Egypt .. The index fell 0.3% to 13,422 points.
BAHRAIN: The index rose 0.6% to 1,536 points.
Oman: The index rose 0.1% to 3,371 points.
KUWAIT: The index rose 0.3% to 6,677 points.
(Reuters)
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