Major Gulf indexes end mixed; Egypt snaps losing streak | Reuters

Major Gulf indexes end mixed; Egypt snaps losing streak | Reuters:

Major Gulf markets ended mixed on Tuesday, with financial shares weighing on the Saudi index, while property shares boosted Qatar’s benchmark.

Saudi Arabia's benchmark index .TASI fell 0.6%, with Al Rajhi Bank 1120.SE losing 1% and oil giant Saudi Aramco 2222.SE down 0.8%.

Dubai's main share index .DFMGI slipped 0.3%, hurt by a 2.3% fall in Emirates NBD Bank ENBD.DU and a 0.4% drop in Mashreq Bank MASB.DU.

The Abu Dhabi index .ADI edged up 0.1%, supported by a 1.1% rise in Abu Dhabi Commercial Bank ADCB.AD and a 0.2% gain in First Abu Dhabi Bank (FAB) FAB.AD.

FAB, the United Arab Emirates’ largest lender, has hired banks to arrange an investor call ahead of an issuance of U.S. dollar-denominated bonds, a document showed.

The planned Additional Tier 1 perpetual bonds are not callable for six years, the document showed.

In Qatar, the index .QSI closed up 0.8%, led by a 10% surge in United Development Company UDCD.QA and a 3.7% rise in Barwa Real Estate Company BRES.QA.

Gulf Warehousing Co GWCS.QA, which is not part the index, jumped 6.4%, after the firm was approved as first regional supporter and official logistics provider for FIFA World Cup Qatar 2022.