Pressures on the Gulf stock exchanges .. These markets are closing

Shares of Saudi Arabia and Qatar closed in higher on Sunday, supported by shares of petrochemical companies and banks, while the rest of the other major Gulf stocks fell.

The main Saudi index closed in increase of 0.7%, with the stake of Saudi Basic Industries Corporation (SABIC) in increase of 2.5% and that of Al-Rajhi Bank of 0.7%.

The Qatar index was up 0.7%, extending its earnings for the third consecutive day, supported by a 2.1% rise in Petrochemical Industries Qatar’s stake and a 2.3% rise in its share of Mesaieed Petrochemical Holding Company.

The Dubai index fell 0.3%, with shares of Emaar Properties in decrease of 1.2% and its subsidiary Emaar Malls in drop of 1.6%.

After the close, Emaar Malls said its chairman and board member, Mohammed Al-Hussaini, has resigned from the company.

And last March, Emaar Properties announced a plan to buy minority stakes in Emaar Malls and stop listing his shares in bag by the end of the year.

Outside the Gulf, the Egyptian Stock Exchange’s main index closed in increase of 0.1%, with the Eastern Tobacco Company stake in increase of 3.1%.

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