Sept 12 (Reuters) – Major stock markets in the Gulf fell in early trade on Sunday in response to Friday’s slide on Wall Street, with the Abu Dhabi index easing from the previous session’s record highs.
US main stock indexes finished lower on Friday after data showing persistent US inflation dampened optimism about an easing in US-China tensions after a call between President Joe Biden and China’s Xi Jinping. read more
Saudi Arabia’s benchmark index (.TASI) dropped 0.3%, on track to extend losses from the previous session, pressured by a 0.3% fall in Al Rajhi Bank (1120.SE).
Aljazira Takaful (8012.SE) advanced 2.4%, after Capital Market Authority approved a capital increase request of the insurer through the issuance of bonus shares.
In Abu Dhabi, the index (.ADI) lost 0.2%, falling from the previous session’s record highs. Emirates Telecommunications Group (ETISALAT.AD) declined 1.1%, while the country’s largest lender First Abu Dhabi Bank (FAB.AD) was down 0.2%.
The United Arab Emirates said on Friday residents who had been fully vaccinated with a shot approved by the World Health Organization could return as of Sept. 12 from a list of previously suspended countries. read more
Dubai’s main share index (.DFMGI) eased 0.1%, hit by a 0.5% fall in blue-chip developer Emaar Properties (EMAR.DU) and 0.4% decrease in sharia-compliant lender Dubai Islamic Bank (DISB.DU).
Logistic firm Aramex (ARMX.DU), partly owned by Abu Dhabi state investor ADQ, is in advanced talks to buy Turkish delivery company MNG Kargo, Reuters reported on Saturday, citing three sources. read more
Aramex was down 0.5%.
The Qatari index (.QSI) eased 0.2%, as most of the stocks on the index were in negative territory including Qatar National Bank (QNBK.QA), which retreated 0.9%.
Reporting by Ateeq Shariff in Bengaluru. Editing by Jane Merriman