PHOTO
Investors look at stock exchange information at the Dubai Financial Market December 14, 2009. Image for illustrative purpose.
Stock markets in the Gulf ended mixed on Thursday ahead of more corporate earnings, with the Dubai index ending four sessions of losses.
Saudi Arabia's benchmark index fell 0.2%, with Al Rajhi Bank losing 1.4%. In the previous session, the lender advanced 4.7%, after Al Rajhi reported an 18.7% surge in its net profit to 19.72 billion riyals ($5.26 billion) for 2024. The bank proposed a second-half cash dividend of 1.46 riyal per share, up from 1.15 riyal a year earlier. Alinma Bank dropped 2.3% despite reporting a higher annual profit.
Dubai's main share index added 0.5%, led by a 2.3% leap in blue-chip developer Emaar Properties. Among other gainers, Dubai Financial Market gained 1.3%, ahead of its results.
In Abu Dhabi, the index added 0.2%, with Abu Dhabi Commercial Bank (ADCB) climbing 3.7%, rising for a third consecutive session. On Monday, ADCB reported a higher fourth-quarter net profit of 2.57 billion dirhams ($699.78 million), along with an annual dividend of 0.59 dirhams. Additionally, the bank projected a doubling of net profits to 20 billion dirhams within five years.
In Qatar, the index eased 0.1%, hit by a 0.6% fall in Qatar National Bank and a 1.9% slide in Qatar Gast Transport (Nakilat). Nakilat - the world's largest shipper of liquefied natural gas - on Wednesday retreated 2.4% after proposing a lower annual dividend. However, the firm recorded a net profit of 1.64 billion riyals ($449.89 million), compared with 1.56 billion riyals a year ago.
On the other hand, Mesaieed Petrochemical Holding Co rose 1.9% ahead of the firm reporting its 2024 results. Outside the Gulf, Egypt's blue-chip index gained 0.4%, with Talaat Moustafa Holding gaining 0.9%. SAUDI ARABIA lost 0.2% to 12,415
- Abu Dhabi added 0.5% to 5,155
- Dubai rose 0.2% to 9,584
- QATAR eased 0.1% to 10,667
- EGYPT gained 0.4% to 30,011
- BAHRAIN was up 0.3% to 1,879
- OMAN down 0.5% to 4,543
($1 = 3.6726 UAE dirham)
($1 = 3.6453 Qatar riyals)
($1 = 3.7508 riyals)
(Reporting by Ateeq Shariff in Bengaluru; Editing by Tasim Zahid)