Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Saudi shares fall after news king in hospital

07/20/2020 | 07:20am EDT
Traders talk with the officials at Bahrain Bourse in Manama

Saudi Arabian shares retreated on Monday, with most stocks in negative territory after news King Salman bin Abdulaziz had been admitted to hospital, while most other Middle Eastern markets ended higher.

The king, who is suffering from inflammation of the gall bladder, is undergoing medical checks, state news agency SPA said on Monday.

Saudi Arabia's benchmark index declined 0.6% after shedding as much as 2.2% during the session. Petrochemical maker Saudi Basic Industries lost 1.5% and Al Rajhi Bank was down 0.5%.

Saudi Kayan Petrochemical also slid 2.1%, after it reported a second-quarter loss.

Egypt's blue-chip index <.EGX30> traded 1% higher, ending a five-day losing streak, with top lender Commercial International bank gaining 2.6%.

Dubai's main share index closed up 0.2%, bolstered by a 2.7% rise in blue-chip developer Emaar Properties.

However, the impact of the novel coronavirus on earnings weighed on some stocks.

Emirates NBD Bank ended 1.9% down after the lender reported a 58% plunge in second-quarter profit.

Emirates REIT, a Dubai-based sharia-compliant real estate investment trust, said in a statement it was considering de-listing from Nasdaq Dubai in response to a downturn in the United Arab Emirates' real estate sector and weak equity market conditions.

The company's shares were down 4.7%.

In Abu Dhabi, the index lost 0.4%, dragged down by a 2.2% fall in the country's largest lender First Abu Dhabi Bank.

The Qatari index rose 0.6%, led by a 1.8% gain in Qatar Fuel Company and a 1.2% increase in Qatar Electricity and Water Company following an increase in first-half net profit.

By Ateeq Shariff


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AL RAJHI BANKING AND INVESTMENT CORPORATION -0.54% 110 End-of-day quote.49.46%
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E 1.04% 51.26 End-of-day quote.-13.40%
EMAAR PROPERTIES 1.21% 4.17 End-of-day quote.18.13%
EMIRATES NBD BANK 0.00% 13.9 End-of-day quote.34.95%
EMIRATES REIT (CEIC) PLC 4.48% 0.14 End-of-day quote.-20.45%
FIRST ABU DHABI BANK P.J.S.C. 0.97% 16.58 End-of-day quote.28.53%
NASDAQ COMP. 0.79% 14253.268071 Delayed Quote.9.72%
QATAR ELECTRICITY & WATER COMPANY Q.P.S.C. 0.12% 16.67 End-of-day quote.-6.61%
QATAR FUEL COMPANY Q.P.S.C.("WOQOD") 0.95% 17.98 End-of-day quote.-3.75%
SAUDI BASIC INDUSTRIES CORPORATION 0.66% 122 End-of-day quote.20.32%
SAUDI KAYAN PETROCHEMICAL COMPANY 0.23% 17.42 End-of-day quote.21.82%
Latest news "Economy & Forex"
07:05aMobilityRE welcomes mortgage technology leader Jonas Kruckeberg as director of growth and client success
SE
07:05aGreatly Enhance Your Immune and Endocrine Systems to Help Prevent Illness and Expedite Healing Through Utilizing Neuroscience and Epigenetics
SE
07:03aChristopher Krebs Joins SentinelOne Advisory Board
BU
07:02aCYBERSAINT  : Security Wins Prestigious Global CyberTech100 2021 Award for Combating Cyber Threats in Financial Sector
BU
07:01aIRONNET  : Wins Major Amazon Web Services (AWS) Global Award
BU
07:01aCrypto is 'rat poison', a third of mainstream investment firms tell JPM
RE
07:00aMove For Hunger to Connect Food Donations with Local Distribution Centers in Partnership with Goldman Sachs Asset Management
SE
06:59aHong Kong's Lalamove confidentially files for U.S. IPO - Bloomberg
RE
06:59aCENTRAL BANK OF HUNGARY  : The MNB held an FX swap tender providing euro liquidity
PU
06:58aUnliveable Sydney homes going for millions in Australia housing boom
RE
Latest news "Economy & Forex"