Middle East Stocks Mixed, Saudi Shares Gain on Foreign Buying
Middle East stocks were mixed, with Saudi shares lifted by foreign buying.
Dubai was also supported by the government measures to cut costs for key industries including aviation, real estate, and education as part of a fiscal stimulus package, Reuters reported on Monday.
In company news, Al Babtain Power And Telecommunication awarded a $69.5 million contract to manufacture and supply metal structures.
Insurer Medgulf’s board named Tarek Bin Abdullah Al-Naeem as chief executive.
Abdulmohsen Al Hokair Group For Tourism And Development swung to a full-year net loss, partly due to a decline in revenue from its entertainment centres and hotels.
Saudi Arabia’s main index firmed 0.2% to 8,446 points, Dubai gained 0.3% to 2,598 points, Qatar inched up 0.2% to 9,766 points, Abu Dhabi slipped 0.2% to 4,862 points, Egypt added 0.3% to 15,140 points, Kuwait inched up 0.3% to 5,602 points, Oman dipped 0.1% to 4,083 points and Bahrain eased 0.1% to 1,405 points.
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