Mideast Stocks: Major Gulf indexes end mixed; Egypt snaps losing streak

First Abu Dhabi Bank hires banks for dollar bonds - document

  
Image used for illustrative purpose only. Traders work at the Egyptian stock exchange in Cairo, May 28, 2015.

Image used for illustrative purpose only. Traders work at the Egyptian stock exchange in Cairo, May 28, 2015.

REUTERS/Mohamed Abd El Ghany

Major Gulf markets ended mixed on Tuesday, with financial shares weighing on the Saudi index, while property shares boosted Qatar's benchmark.

Saudi Arabia's benchmark index fell 0.6%, with Al Rajhi Bank 1120.SE losing 1% and oil giant Saudi Aramco down 0.8%.

Dubai's main share index slipped 0.3%, hurt by a 2.3% fall in Emirates NBD Bank and a 0.4% drop in Mashreq Bank.

The Abu Dhabi index edged up 0.1%, supported by a 1.1% rise in Abu Dhabi Commercial Bankand a 0.2% gain in First Abu Dhabi Bank (FAB).

FAB, the United Arab Emirates' largest lender, has hired banks to arrange an investor call ahead of an issuance of U.S. dollar-denominated bonds, a document showed. 

The planned Additional Tier 1 perpetual bonds are not callable for six years, the document showed.

In Qatar, the index  closed up 0.8%, led by a 10% surge in United Development Company and a 3.7% rise in Barwa Real Estate Company.

Gulf Warehousing Co, which is not part of the index, jumped 6.4%, after the firm was approved as first regional supporter and official logistics provider for FIFA World Cup Qatar 2022. 

Outside the Gulf, Egypt's blue-chip index rose 0.5%, ending three sessions of losses, led by a 1.8% gain in Commercial International Bank.

(Reporting by Ateeq Shariff in Bengaluru Editing by Tomasz Janowski) ((AteeqUr.Shariff@thomsonreuters.com; +918061822788;))

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