Mideast Markets Trade Mixed With Focus on Earnings: Inside EM - Bloomberg:
Stock markets in Dubai, Abu Dhabi, Kuwait and Bahrain advanced, while those in Saudi Arabia, Oman, Qatar and Israel retreated as investors wait for earnings season to build up.
“Earnings are back on the radar, and volume of trade in general could pick up as the bigger names start announcing their results,” said Issam Kassabieh, a senior financial analyst at Mena Corp in Dubai. “Real-estate names should remain on focus, with recurring income seen pressured.”
In Saudi Arabia, the biggest stock market in the Middle East and Africa, dairy producer Almarai Co. fell after second-quarter profit was slightly below forecasts. In Kuwait, the main index is poised for its seventh session of increases with lenders contributing the most.
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