MIDEAST STOCK MAR­KETS

Kuwait Times - - BUSINESS -

tight,” said Na­bil Farhat, a part­ner at Al Fa­jer Se­cu­ri­ties in Abu Dhabi.

Dubai’s in­dex slipped al­most one per­cent, dragged down by Emaar Prop­er­ties which has the largest weight­ing on the bench­mark. The Dubai de­vel­oper lost 1.9 per­cent. The Saudi in­dex was also flat as gains by the King­dom’s largest listed lender helped off­set losses by petro­chem­i­cal, ce­ment and re­tail stocks. Na­tional Com­mer­cial Bank, the king­dom’s largest listed lender, climbed al­most five per­cent.

But Saudi Ba­sic In­dus­tries Corp, one of the world’s largest petro­chem­i­cals group lost 0.6 per­cent. Saudi Ce­ment, one of the king­dom’s largest ce­ment firms by mar­ket value, de­clined 1.5 per­cent. Saudi Ara­bian re­tailer Fawaz Ab­du­laziz Al­hokair Co was down 2.5 per cent. Kuwait’s in­dex rose 0.27 per­cent, lifted by the coun­try’s big­gest tele­coms op­er­a­tor by sub­scribers, Zain . Zain jumped 2.44 per­cent to 420 fils. The ex-monopoly, which op­er­ates in eight coun­tries in the Mid­dle East and Africa, has risen

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