MIDEAST STOCKS-Most Gulf markets slip on caution over US-Iran talks
ALRAJHI 1120.SA | 0.00 | |
Tadawul All Shares Index TASI.SA | 0.00 |
By Ateeq Shariff
July 5 (Reuters) - Most stock markets in the Gulf ended lower on Sunday, as investor caution grew following a lack of progress in indirect peace talks between Iran and the United States, which concluded without a breakthrough.
There was no sign the two sides had made headway towards a lasting peace in the indirect talks, which wrapped up on Wednesday, focusing instead on issues that they said had been resolved when an interim agreement was announced two weeks ago.
The next meeting will take place after funeral processions for Iran's late Supreme Leader Ayatollah Ali Khamenei, who is due to be buried on July 9, Qatar's Foreign Ministry said.
Saudi Arabia's benchmark index .TASI eased 0.3%, hit by a 0.5% fall in Al Rajhi Bank 1120.SE.
Meanwhile, Saudi Arabia's non-oil private sector saw stronger growth in June, driven by the fastest increase in new business in four months.
However, companies continued to face high costs and declining export demand, a survey showed on Sunday.
In Qatar, the index .QSI rose 0.3%, with the region's biggest lender Qatar National Bank QNBK.QA gaining 0.2%.
Maritime trade between Iran and Qatar has resumed after a roughly five-month suspension, Iran’s commercial attaché in Doha told state media on Sunday.
Outside the Gulf, Egypt's blue-chip index .EGX30 advanced 1.2%, led by a 1.9% rise in Commercial International Bank COMI.CA.
Egypt's M2 money supply grew by 19.6% year-on-year in May, reaching 15.33 trillion Egyptian pounds ($312.35 billion), according to central bank data.
Saudi Arabia |
.TASI fell 0.3% to 10,799 |
Qatar |
.QSI added 0.3% to 10,246 |
Egypt |
.EGX30 up 1.2% to 51,131 |
Bahrain |
.BAX lost 0.6% to 2,024 |
Oman |
.MSX30 lost 0.2% to 7,564 |
Kuwait |
.BKP lost 0.3% 9,117 |
