Majority of stock markets around the Persian Gulf dropped during Sunday trading
The market was weakened mainly by Saudi Aramco shares and bank titles.
Saudi Arabia Stock Market lost 0,2% and Saudi Aramco shares dropped in 0,8%. In addition, the mining giant announced that its financial results will be announced on 16th March. Saudi Arabian banks dropped in 4-7%.
The main index of Qatar Stock Exchange lost around 0,5%. The decrease was most visible at mining company Msaieed Petrochemical Holding – in more than 3%. Moreover, Commercial Bank lost 1,7% of its value.
Similar progress was present in United Arab Emirates during Sunday trading. Dubai Stock Exchange index dropped in 0,6% and Emirates Integrated Telecommunications experienced the biggest drop of 2,2%. The title decrease was affected by published financial results for last year, which were worse than expected. Abu Dhabi Exchange grew slightly in reaction to positive economic results of local society.