Gulf stock markets showed mixed results as the earnings season got underway about a year ago. Investors were keeping tabs on regional issues and oil prices‚ while companies began sharing their financial outcomes.
Saudi Arabias benchmark index inched up slightly‚ with ACWA Power and Middle East Pharmaceutical Industries showing gains. The oil giant Saudi Aramco traded with some ups-and-downs. Oil prices a key factor for Gulf financial markets remained steady as investors watched Middle East happenings and Chinas economic plans‚ waiting for U.S oil data.
Dubais main share index dipped‚ with top lender Emirates NBD declining after reporting flat third-quarter profits. The bank saw an uptick in net interest income‚ but this was balanced out by higher costs for potential losses and growth investments.
Abu Dhabis index crept up a bit‚ with conglomerate International Holding showing a small increase. Meanwhile‚ worries about a wider conflict in the Middle East grew as Israel planned its response to a missile attack that happened roughly a year and two weeks ago.
Qatars benchmark index slipped‚ affected by drops in the Gulfs biggest lender Qatar National Bank and telecoms firm Ooredoo.
The markets performance reflected a mix of company-specific news and broader regional concerns‚ highlighting the complex factors at play in Gulf financial markets