MIDEAST STOCK MARKETS
In Qatar the main index closed up 0.3 percent as Qatar National Bank, the largest listed share, gained 0.5 percent after it reported a 10.2 percent increase in third-quarter net profit to 3.45 billion riyals ($947.5 million). Aalysts had forecast 3.26 billion riyals.
Dubai’s main index rose 1.0 percent as ninetenths of traded stocks advanced. Drake & Scull, the most heavily traded stock, jumped 4.2 percent; the builder had surged 7.0 percent on Monday after appointing a new chief operating officer, Wael Allan, replacing Khaldoun Tabari, a major shareholder.
Emaar Properties climbed 0.6 percent. On Monday the developer started building what it said would be the world’s tallest tower, another record for a company that built the highest skyscraper, Burj Khalifa.
Blue-chips helped lift Kuwait’s general index 1.1 percent. National Bank of Kuwait, the largest Kuwaiti lender, rose 1.7 percent and telecommunications operator Zain added 1.5 percent. But Abu Dhabi’s index lagged, dipping 0.3 percent. Large-cap banks were the main drag with First Gulf Bank dropping 1.7 percent.