Saudi bourse extends losses on lacklustre earnings; Egypt gains
Saudi Arabia's stock market ended lower on Sunday, extending losses for a fourth session, amid disappointing corporate earnings, while Egypt's stock index was buoyed by upbeat company results.
Saudi Arabia's benchmark index (.TASI), opens new tab fell 0.6%, hit by a 0.4% drop in Al Rajhi Bank (1120.SE), opens new tab and a 3.4% decrease in Riyad Bank (1010.SE), opens new tab.
Elsewhere, Saudi Tadawul Group (1111.SE), opens new tab eased 0.5%, after the operator of Saudi Arabia's stock exchange missed analysts' estimates on annual profit.
Meanwhile, oil prices fell on Friday as markets watched an Oval Office argument between the U.S. and Ukrainian presidents while also bracing for Washington's new tariffs and Iraq's decision to resume oil exports from the Kurdistan region.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab gained 0.8%, snapping a four-day losing streak. Commercial International Bank (COMI.CA), opens new tab rose 1.1%, while Fawry for Banking Technology and Electronic Payment (FWRY.CA), opens new tab jumped 4.4%, following a rise in 2024 profit.