Major Gulf bourses see gains as earnings season progresses
Investors focused on corporate earnings drove the early trading on Tuesday on major stock markets across the Gulf.
Saudi Arabia's benchmark indices gained?0.4% led by an increase of 0.9% in Al?Rajhi bank. The bank's net profit was 24.79 billion Saudi riyals, up from 19.72 billion the year before.
Al Rajhi announced a dividend of 1,75 riyals per share for the second quarter, a rise of nearly 20% compared to last year's same period.
Other gainers include Saudi National?Bank, the largest lender in the country by assets. The bank's shares rose 1.8% after a dramatic rise in its?2025 profit.
First Abu Dhabi Bank, the largest lender in the United Arab Emirates, saw its index rise by 1.3% ahead of the bank's fourth-quarter results.
While crude prices were easing, investors were watching for a return of supply from Kazakhstan. However, price declines remained limited due to a major winter storm that affected crude production in the United States and its refineries. Gulf Coast.
According to the head of Abu Dhabi's National Oil Company (ADNOC), global oil demand is expected to remain at 100 million barrels a day until 2040. Demand for liquefied gas (LNG) as well as electricity will also grow 50% or more.
ADNOC Gas shares were up by?1.4%
Dubai's main stock index rose 0.5%. Sharia-compliant Dubai Islamic Bank climbed 1.7%.
The Qatari Index was 0.4% higher, while Qatar Gas Transport was 1.5% higher. $1 = 3.7498 Riyals (Reporting and editing by Alexander Smith in Bengaluru)
(source: Reuters)
