Most major Gulf markets were subdued on Thursday as disappointing results weighed on their banking
shares, while Egypt's blue-chip index extended gains for a third straight session.
Saudi Arabia's benchmark index lost 0.5% with Banque Saudi Fransi the biggest drag. The lender plunged 5.3%
after it missed full-year profit estimates.
The bank recorded annual profit of 3.12 billion riyals ($831.69 million), up from 1.4 billion riyals a year ago. But,
the figure was lower than an average analyst estimate of 3.35 billion riyals, according to Refinitiv IBES data.
State-owned Saudi Aramco traded 0.7% lower at 33.4 riyals ($8.90), reaching its lowest since it started trading on
Dec. 11.
Egypt's blue-chip index gained 0.9% as most of its stocks rose. Tobacco monopoly Eastern Company advanced
3.5% and EFG Hermes was up 2.6%.
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