Most major Gulf bourses fall as financials weigh

Most major Gulf stock markets slipped in early trade on Thursday, pressured by losses in financial shares, while petrochemical firms supported the Qatari index.

Saudi Arabia's benchmark index eased 0.3%, driven down by a 0.4% fall in Al Rajhi Bank and a 0.8% decline in Riyad Bank.

Dubai's main share index slipped 0.2%, pressured by a 0.5% fall in Emirates NBD Bank and a 0.7% slide in Emaar Properties.

In Abu Dhabi, the index lost 0.4%, with the country's largest lender First Abu Dhabi Bank declining 0.5% and Emirates Telecommunications was down 0.2%.

Abu Dhabi National Oil Company will reduce crude oil supplies to term buyers by 25% in November as part of its commitment to the OPEC+ deal, a notice seen by Reuters showed and sources with knowledge of the matter said.

The Qatari index edged up 0.2%, helped by a 3.3% jump in Mesaieed Petrochemical Holding and a 1% gain in petrochemical maker Industries Qatar.

 

Source: https://www.zawya.com/mena/en/markets/story/Mideast_Stocks_Most_major_Gulf_bourses_fall_as_financials_weigh-TR20200917nL8N2GE1QTX1/

 

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