MIDEAST STOCKS-Most major Gulf markets slip in early trade - Reuters

MIDEAST STOCKS-Most major Gulf markets slip in early trade - Reuters:

Major stock markets in the Gulf traded in negative territory early on Thursday, with Dubai and Saudi bourses hurt by weak earnings at their blue-chip stocks.

Saudi Arabia’s benchmark index fell 0.2%, with Saudi Telecom Company losing 1.9% following a decrease in second-quarter net profit.

Amongst others, oil company Saudi Aramco slipped 0.2%.

The kingdom will look to sell assets in sectors not previously considered for privatisation, its finance minister said on Wednesday, as the country contends with the economic impact of sustained low oil prices.


Dubai’s main share index dropped 0.9%, pressured by a 1.5% fall in blue-chip lender Emaar Properties and a 1.1% decrease in Dubai Islamic Bank (DIB).