Most Gulf markets fall; Abu Dhabi gains | Reuters
Most Gulf markets ended in the red on Thursday, with the Saudi index pressured by losses in its banking shares.
Saudi Arabia’s benchmark index ended the session down 0.7%, but was still up 0.9% on the week.
Al Rajhi Bank dropped 0.7%, while the kingdom’s largest lender National Commercial Bank retreated 1.9%.
Crude oil exports in Saudi Arabia, the world’s largest oil exporter, rose for a sixth straight month to an eight-month peak in December 2020, official data showed on Wednesday.
In Dubai, the main share index dropped 0.7%, hit by a 2.1% fall in its largest lender Emirates NBD.
The index is down 2.2% for the week, its biggest weekly loss since Oct. 8.
Separately, the United Arab Emirates civil aviation authority has authorised Boeing 737 MAX planes to resume flying, nearly two years after being grounded in March 2019, state news agency WAM said on Wednesday. Emirati carrier flydubai is a major buyer of the jet.
In Abu Dhabi, the index finished 0.2% higher, supported by a 0.8% gain in Aldar Properties and a 0.7% rise in aquaculture firm International Holding.
The index, however, logged its first weekly loss for the year.
The Qatari index declined 0.67%, and retreated the most in a week since Oct. 29.
Financials weighed on sentiment, with Qatar Islamic Bank and Qatar National Bank dragging on the index.
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