Oct 12 2011 |
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Gulf stocks end mixed
JEDDAH - Gulf stock markets were mixed Tuesday, with Saudi Tadawul market losing 0.3 percent to close at 6,118.62 points, along with Abu Dhabi, Dubai and Oman, which also declined.Qatar's benchmark stock index advanced to the highest level in more than a week as Qatar National Bank SAQ and Industries Qatar QSC gained on third- quarter earnings optimism.
Qatar National Bank, the Persian Gulf country's biggest bank by assets, gained for a fourth day and Industries Qatar , the second-largest petrochemicals company in the Middle East, climbed to the highest this month. Qatar's QE Index increased 0.8 percent to 8,352.60, the highest since Oct. 2, at the 1 p.m. close in Doha. The Qatar Exchange Banking Sector Index rose for a fifth day, jumping 0.9 percent. The Bloomberg GCC 200 Index was little changed at 2:28 p.m. in Riyadh.
Qatar's market is being supported by the performance of banks. Meanwhile, the Capital Market Authority Board of Commissioners has allowed AlKhair Capital Saudi Arabia Company to offer AlKhair Capital Saudi Equity Fund.
Separately, CMA Board, acting on the request of Ajeej Capital Limited Company, has approved the cancellation of the earlier issued authorization by the Board to conduct the security business of advising.
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