MIDEAST STOCKS-Most major Gulf stocks dip; real estate aids Dubai | Nasdaq:
Most major Gulf shares opened lower early on Tuesday, weighed down by weak corporate earnings announcements, though property shares helped Dubai buck the trend.
Saudi Arabia's benchmark index .TASI edged down 0.1%, hurt by a 6.9% plunge in telecoms firm Etihad Etisalat 7020.SE and a 0.5% decrease in oil giant Saudi Aramco 2222.SE.
The telco posted an annual profit of 31 million riyals ($8.27 million), from a loss of 123 million riyals a year earlier. However, the profit was lower than analysts' average estimate of 194 million riyals, according to Refinitiv data.
Dubai's main share index .DFMGI added 0.4%, extending gains for a fourth day in a row. Emaar Properties EMAR.DU climbed 2.3% and DAMAC Properties DAMAC.DU was up 0.4%
No comments:
Post a Comment