Mideast Stocks: Saudi gains on banks and petchems, Kuwait outperforms | ZAWYA MENA Edition:
Most Gulf stock markets rose on Tuesday ahead of corporate earnings announcements, while Kuwait outperformed as it reopened after a two-session break.
Saudi Arabia's index was up 0.4%, led by gains in financial and petrochemical shares. Al Rajhi Bank climbed 0.9%, while petrochemical firm Saudi Basic Industries added 0.3%.
Amongst others, United Wire Factories jumped 7.7% to 20.38 riyals, its highest since May 2017 after it reported a surge in its annual profit.
However, state-owned oil giant Saudi Aramco slipped 0.1% to 34.7 riyals.
Kuwait's index, which was closed in the last two sessions following the death of Oman's Sultan Qaboos bin Said, opened up 1.4%. Ahli United Bank rose 3.3% and National Bank of Kuwait added 1.1%.
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