Mideast Stocks: Most major Gulf bourses fall as financials weigh

Saudi Arabia's benchmark index eased 0.3%

  

Most major Gulf stock markets slipped in early trade on Thursday, pressured by losses in financial shares, while petrochemical firms supported the Qatari index.

Saudi Arabia's benchmark index eased 0.3%, driven down by a 0.4% fall in Al Rajhi Bank and a 0.8% decline in Riyad Bank.

Dubai's main share index slipped 0.2%, pressured by a 0.5% fall in Emirates NBD Bank and a 0.7% slide in Emaar Properties.

In Abu Dhabi, the index lost 0.4%, with the country's largest lender First Abu Dhabi Bank declining 0.5% and Emirates Telecommunications was down 0.2%.

Abu Dhabi National Oil Company will reduce crude oil supplies to term buyers by 25% in November as part of its commitment to the OPEC+ deal, a notice seen by Reuters showed and sources with knowledge of the matter said.

The Qatari index edged up 0.2%, helped by a 3.3% jump in Mesaieed Petrochemical Holding and a 1% gain in petrochemical maker Industries Qatar.

(Reporting by Ateeq Shariff in Bengaluru; editing by Uttaresh.V) ((AteeqUr.Shariff@thomsonreuters.com; +918061822788;))

More From Equities