MIDEAST STOCKS-Financials boost UAE stocks; Saudis down on petchems - Agricultural Commodities - Reuters:
Stocks in United Arab Emirates rose on
Tuesday, boosted by financial-services shares, while
petrochemical stocks sent the Saudi market down.
On Sunday, Gulf stocks declined, with Kuwait falling the
most in two years on their first day of trade following a U.S.
attack in Iraq that killed Iranian military commander Qassem
Soleimani, ramping up tensions in the region.
With no immediate retaliation, some of the tension abated.
That helped to push oil and gold prices lower on Tuesday as
investors booked profits.
In Dubai, the index advanced 2%, driven by a 3.6%
leap in blue-chip developer Emaar Properties and a
2.4% gain by its largest bank, Emirates NBD.
The Kuwait index rose 1.3% with most stocks on the
index ending higher. National Bank Of Kuwait rose 1.5%
and Agility Public Warehousing was up 1.8% after it
was awarded a project to develop 1.2 million square meters of
land.
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