The performance of the Gulf Stock Exchanges in the prime sessions of the week

Major stock exchanges in the Gulf region closed mixed trading on Sunday and the Saudi index lost its early gains and fell 0.2% at close, closing four consecutive gains.

Shares of Saudi Telecom Co. fell 1.3%, while SABIC for agricultural nutrients fell 2.2%.

Almarai shares also fell 2.2% after the Gulf region’s largest dairy company posted a quarterly net profit of 409.1 million riyals ($ 109.1 million), in down from 621.5 million riyals a year ago.

But the share of methanol-based chemicals (Chemanol) increased by more than 3% after switching to quarterly profit.

In Abu Dhabi, the index rose 0.3%, supported by a 0.5% increase in shares of International Holding and 2.9% in its Alpha Abu Dhabi Holding unit.

On Thursday, Reuters reported, citing a stakeholder source, that the company had agreed to buy 41% of Nassar Al-Rifai Trading Company, a fruit and vegetable import and export company. in a deal worth 166 million dirhams (45.20 million dollars).

The Dubai index ended the session steady after earnings from financial sector companies offset the decline in real estate stocks.

CBRE Real Estate Investment Group said Thursday that average residential property prices in Dubai rose 4.4% in the 12 months to August, the highest annual increase since February 2015.

But a steady decline in rents indicates continued weakness in the sector, which has been around for a long time in difficulty.

CBRE stated that rents in Dubai have continued their downward trend, in drop of 2.7 percent in media in the year until August.

The Qatar index was up 0.2%, supported by a 1.7% rise in the shares of Mesaieed Petrochemical.

Qatar National Bank, the largest bank in the Gulf, recorded an 8% increase in net profits in the first nine months of the year to reach 10.3 billion Qatari riyal ($ 2.83 billion). which is said to be due to the growth in loans.

But the bank’s shares closed trading stable, unchanged.

Outside the Gulf region, the Egyptian stock market index rose 1.2%, led by a 1.9% rise from Commercial International Bank.

Data from Egypt’s Central Agency for Public Mobilization and Statistics showed on Sunday that annual consumer price inflation in Egyptian cities rose to 6.6% in September from 5.7% in August.

Inflation remained within the central bank’s 5% -9% target range. The bank meets on October 28 to set interest rates.

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