Home ›› 14 Mar 2022 ›› Stock
Most stock markets in the Gulf ended lower on Sunday, weighed down by uncertainty about the conflict in Ukraine.
A Russian missile attack on a large Ukrainian military facility near the border with NATO member Poland on Sunday killed 35 people and wounded 134, a Ukrainian official said.
Saudi Arabia’s benchmark share index (.TASI) fell 0.6 per cent, with oil behemoth Saudi Aramco (2222.SE) sliding 2.8 per cent, extending losses for a third consecutive session.
Aramco has risen more than 10 per cent so far this year as crude prices soared since Russia’s invasion of Ukraine.
Among other losers, Dur Hospitality (4010.SE) retreated 5.4 per cent after the firm called off initial discussions relating to a merger with Taiba Investment Co (4090.SE).
In Qatar, the index (.QSI) dropped 1.1 per cent, with most index stocks in negative territory including the Gulf’s biggest lender Qatar National Bank (QNBK.QA), which was down 2 per cent.
Bucking the trend in the Gulf, Oman’s index (.MSX30) finished 0.5 per cent higher.
Oman aims to list 35 state-owned enterprises in the next five years and plans to take one or two oil companies public this year, the CEO of the Muscat Stock Exchange told CNBC Arabia on Sunday.
Outside the Gulf, Egypt’s blue-chip index (.EGX30) edged up 0.3 per cent, helped by a 2.4 per cent rise in top lender Commercial International Bank (COMI.CA).
