Middle East markets ended mixed on Thursday as the war in Ukraine kept investors jittery, stoking concerns over slowing growth and high inflation.
Oil prices rose marginally to $121.95 a barrel, as the U.S. president met other Western leaders and investors waited to see how sanctions would be tightened on Russia over its invasion of Ukraine.
All eyes were on the special NATO summit in Brussels later in the day, which U.S. President Joe Biden will attend, to discuss further responses to Russia's month-old invasion of Ukraine, which Moscow calls a "special military operation". read more
"GCC stock markets moved in different directions as the global uncertainties weigh on investors’ expectations while local events such as IPOs and strong fundamentals provide a balance," said Miguel Rodriguez, Chief Market Analyst, MENA, at CAPEX.com.
Saudi Arabia's benchmark index (.TASI) ended flat, with gains in material stocks offset by losses in financials.
Shares of Al Sagr Cooperative Insurance (8180.SE) rose 2.9% after the company posted a smaller annual loss.
Abu Dhabi's index (.FTFADGI) ended up 0.2%, while Dubai's main share index (.DFMGI) gained 0.5%.
Emirates NBD Bank (ENBD.DU) and Emaar Properties (EMAR.DU) led gains on the index.
The Qatari index (.QSI) recovered from the earlier sombre mood to end the session 0.8% higher, its fourth consecutive session of gains.
Outside the Gulf, Egypt's blue-chip index (.EGX30) ended down 0.3%.
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