Mideast Stocks: Major Gulf markets subdued, Aramco falls again
All major Gulf markets opened in the red on Tuesday, dampened mainly by financials, while petrochemical shares weighed on Saudi Arabia.
The Saudi benchmark index was down 0.2% as Samba Financial Group 1090.SE lost 2.2%, while Saudi Arabian Mining Co dipped 1.4%.
Elsewhere, the kingdom's oil giant Saudi Aramco dropped 0.3% to 35.5 riyals ($9.46). The state-owned firm took a breather in the previous session to snap four straight days of losses.
However Saudi Industrial Services Company rose 2.3% after its unit Red Sea Gateway Terminal signed a new 30-year concession with the Saudi ports authority to develop the northern part of Jeddah port.
The Qatari index slipped 0.4% with Qatar Islamic Bank and Qatar Commercial Bank declining 0.6% and 1.1% respectively.
Dubai's index was down 0.2%, hurt by a decline in banking shares with Mashreq Bank dropping 7.8%.
However, Emaar Properties edged up 0.3%. On Monday, Reuters quoted informed sources as saying Dubai's biggest developer would sell the observation decks of the world's tallest skyscraper, the Burj Khalifa, potentially raising $1 billion.
In Abu Dhabi, the index inched down 0.1% as Abu Dhabi National Energy Company dropped 8%, its third straight day of decline.
The energy firm signed a new $3.5 billion facility on Monday, replacing its existing $3.1 billion revolving credit facility.
By contrast, Dana Gas rose 2.4% after receiving a one-off $42 million dividend payment from Pearl Petroleum in Iraq's Kurdistan region.
($1 = 3.7515 riyals)
(Reporting by Maqsood Alam in Bengaluru Editing by Mark Heinrich) ((Maqsood.Alam@thomsonreuters.com;))