AfricaPress-Tanzania: MAJOR Gulf stock markets were little changed early on Sunday, with the Saudi index slipping slightly on declines among energy companies.
Saudi Arabia’s benchmark index dipped by 0.3%, driven down by a 0.9% fall for oil giant Saudi Aramco and a 1.8 % drop for Rabigh Refining and Petrochemical Company. Al Rajhi Bank, however, firmed by 0.2% despite a fall in second-quarter profit.
The value of kingdom’s oil exports dropped by 65% year on year in May, representing a fall of nearly $12 billion, official data showed on Thursday. Dubai’s main share index added 0.2%, with lender Emirates NBD rising 0.7% and Emaar Properties up 0.4%.
Separately, Dubai logistics company Tristar has approached investment banks to look at a potential initial public offering in Dubai, Reuters reported, citing two sources, after plans for a London listing were shelved last year.
In Abu Dhabi, the index edged up 0.1% , helped by a 4.5% rise in aquaculture company International Holding and a 1.8% gain for Aldar Properties. The Qatari index traded flat as petrochemicals company Industries Q atar retreated 1.1%.
The Gulf state has reiterated its commitment to resolving the long-running diplomatic dispute with some of its neighbours via peaceful and diplomatic means, state news agency Q NA said on Thursday.
