Major Gulf stock markets were mixed on Thursday, with the Abu Dhabi index rising after aquaculture firm International Holding Company reported a higher quarterly profit.
Abu Dhabi's index (.ADI) closed 0.6% higher with a weekly gain of 1.7%. International Holding (IHC.AD) was up 3.3%, boosting the index the most. The firm posted 1.5 billion dirhams of profit in the first quarter compared with 112.2 million dirhams a year earlier.
The company's board also approved acquiring stake in four companies through its units.
Emirates Telecommunications Group (ETISALAT.AD), which is set to raise 1 billion euros ($1.2 billion) in dual-tranche bonds on Thursday, added 0.8%.
Abu Dhabi's gains were capped by a 5.5% drop in Dana Gas (DANA.AD) as it traded ex-dividend.
The Dubai index (.DFMGI) was up 0.5% and ended the week with a 2.3% rise. Emirates NBD Bank (ENBD.DU) advanced 2.1% and Emaar Malls (EMAA.DU) added 1.6%.
Aramex (ARMX.DU) closed nearly 1% down. The Courier firm fell as much as 3.9% during the day after reporting a 32% decline in first-quarter profit to 46 million dirhams ($12.52 million)
Saudi Arabia's benchmark index (.TASI) was down 0.2% and fell 1.8% for the week.
Saudi Telecom (7010.SE) declined 1.8%, extending losses from Wednesday, when it traded ex-dividend.
Among the gainers, Al Rajhi Bank (1120.SE) and Sahara International Petrochemical (2310.SE) advanced 0.4% and 3.9%, respectively.
Reuters reported, citing sources, that Saudi Arabia is considering barring overseas pilgrims from the annual haj for the second year running as COVID-19 cases rise globally and worries grow about the emergence of new variants. read more
The Qatari index (.QSI) ended flat with Industries Qatar (IQCD.QA) gaining 0.7% and Commercial Bank (COMB.QA) losing 1%.
Outside the Gulf, Egypt's blue-chip index (.EGX30) ended up 0.7%. Commercial International Bank Egypt (COMI.CA) led the gainers increasing 1.3%.
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