MIDEAST STOCKS-Abu Dhabi index leads major Gulf markets higher - Reuters:
Major stock markets in the Gulf rose in early trade on Tuesday, with the Abu Dhabi index boosted by gains in International Holding’s shares following a sharp rise in its second-quarter profit.
Saudi Arabia’s benchmark index was up 0.2%, with Al Rajhi Bank rising 0.7% and oil giant Saudi Aramco increasing 0.3%.
Aramco is moving ahead with plans to boost crude output capacity by 1 million barrels per day (bpd) to 13 million bpd despite cuts in capital expenditure this year and next year, the state oil group’s CEO Amin Nasser said on Monday.
Jarir Marketing Company gained 1.5%. The Saudi retailer proposed a higher dividend of 1.70 riyal per share for the second quarter versus 1.40 riyal a year earlier.
In Abu Dhabi, the share index rose 0.7%, buoyed by a 5.7% jump in International Holding.
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