By Shamsuddin Mohd
Feb 26 (Reuters) - Major stock markets in the Gulf ended
mixed on Sunday, with Saudi Arabia's index pressured by real
estate and banking shares, but a 10% surge in Qatar Insurance lifted the Qatari index.
Saudi Arabia's benchmark index fell 1%, recording
its sixth consecutive decline.
The luxury real estate developer Retal Urban Development lost 3% while Al Rajhi Bank was down 1.8%.
Among other stocks, Saudi Tadawul Group fell 4.7%
after its annual profit declined more than 27% to 424.6 million
riyals ($113.17 million).
The latter also slashed its annual dividend to 2.31 per
share from 3 riyals a year ago.
Middle East Healthcare jumped 10% after its annual
profit soared more than 300% compared to a year earlier.
The Qatari Stock index rose 0.7%, ending three
consecutive sessions of losses, buoyed by its financial stocks.
Gulf's largest insurer Qatar Insurance jumped
nearly 10% for second consecutive session with about 9 million
shares trading hands, marking a turnover of over 15 million
riyals - its largest since September, after saying its listed
unit in Oman, Oman Qatar Insurance acquired another
listed rival Vision Insurance .
The insurer on Wednesday hit a more than 13-year low after
reporting a consolidated net loss of 637 million riyals ($174.14
million) for fiscal year 2022, compared to a profit of 630
million riyals ($172.23 million) a year earlier.
Outside the Gulf, Egypt's blue-chip index added
1.2%, led by gains in almost all sectors, with Commercial
International Bank rising 1.3% and Telecom
Egypt gaining 4.2%.
SAUDI ARABIA fell 1% to 10,052
QATAR was up 0.7% to 10,542
EGYPT rose 1.2% to 17,213
BAHRAIN down 0.1% to 1,937
OMAN up 0.2% 4,659
($1 = 3.6580 Qatar riyals)
($1 = 3.7519 riyals)
(Reporting by Shamsuddin Mohd in Bengaluru
Editing by Christina Fincher)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.