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May 9 (Reuters) – Major stock markets in the Gulf region were mixed early on Tuesday, with Aramco’s quarterly earnings boosting the Saudi index, while Qatari and Abu Dhabi stocks followed oil prices lower.
Saudi Arabia’s benchmark index (.one) Up 0.5%, boosted by a 4% rise in oil major Saudi Aramco (2222.SE) After its first-quarter earnings topped market expectations, despite a 19% drop from last year.
Net income rose 3.75% from the fourth quarter, and the company said it would pay a first-quarter dividend of $19.5 billion.
Among other winners, Saudi Arabian National Shipping Lines (4030.SE) It rose 2.6 percent after reporting a sharp jump in quarterly profit.
Dubai main stock index (.DFMGI) Budget airline Air Arabia rose 0.4 percent (AIRA.DU) It rose more than 2% in a day after reporting a sharp jump in quarterly profit.
main airport in dubai increased by 55.8% Operator Dubai Airports said on Tuesday that passenger traffic in the first quarter of this year reached 95.6% of the pre-pandemic level in 2019 compared with last year.
In Abu Dhabi, the index (.FTFADGI) It fell 0.2 percent, hit by a 1.3 percent drop in Alpha Dhabi Holding (ALPHADHABI.AD).
Oil prices – key catalyst for Gulf financial markets – fall Markets were cautious ahead of the release of U.S. inflation data for April, giving up some of the strong gains of the previous two sessions, which will be key to the Federal Reserve’s next interest rate decision.
In Qatar, the index (.QSI) It fell 0.1%, on track to snap a nine-day winning streak, dragged down by a 1.2% drop in Qatar National Bank, the largest lender in the Gulf region. (QNBK.QA).
($1 = 3.7501 Rials)
By Ateeq Shariff from Bengaluru
Our standards: Thomson Reuters Trust Principles.
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