Mideast Markets Trade Mixed With Focus on Earnings: Inside EM - Bloomberg:
Stock markets in Abu Dhabi, Kuwait, Bahrain and Egypt advanced, while those in Saudi Arabia, Dubai, 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, 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 by the most in almost a month after second-quarter profit was slightly below forecasts. In Kuwait, the main index had its seventh session of increase with lenders contributing the most.
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