MIDEAST STOCKS- #Kuwait leads most of Gulf lower as financials drag | Nasdaq

MIDEAST STOCKS-Kuwait leads most of Gulf lower as financials drag | Nasdaq:

Most bourses in the Gulf ended lower on Tuesday, hurt by their financial shares, with Kuwait hardest hit as investors shunned stocks across the board.

In Kuwait, the index .BKP retreated 2.2%, its biggest intraday fall since April, dragged down by a 2.4% drop in Kuwait Finance House KFH.KW.

Saudi Arabia's benchmark index .TASI lost 0.6%, with oil giant Saudi Aramco 2222.SE falling 1% and Al Rajhi Bank 1120.SE dropping 0.6%.

But, Mobile Telecommunications Company Saudi Arabia (Zain KSA) 7030.SE jumped 7.8%, after it raised a 6-billion-riyal ($1.60 billion) loan to refinance existing debt and secure access to additional liquidity to support growth, the telecoms firm said in a bourse filing.

Dubai's main share index .DFMGI gave up early gains to closed down 0.4%, pressured by a 1.9% fall in Emirates NBD Bank ENBD.DU and a 0.7% decrease in blue-chip developer Emaar Properties EMAR.DU.

However, the index's losses were capped by gains at logistic firm Aramex ARMX.DU.

On Monday, Aramex ended two sessions of losses triggered when the logistics firm confirmed last week that a portion of its warehouse facility in Morocco had been damaged in a fire.

The Abu Dhabi index .ADI edged up 0.1%, helped by a 0.4% rise in the United Arab Emirates' largest lender First Abu Dhabi Bank FAB.AD.

In Qatar, the index .QSI added 0.3%, with United Development Company UDCD.QA jumping 5.4%.