Aug 1 (Reuters) – Abu Dhabi’s inventory market ended larger on Sunday, hitting a file excessive throughout the session, whereas the Saudi index was bolstered by positive factors in banking shares.
The Saudi benchmark index (.TASI) completed 0.5% larger, with Al Rajhi Financial institution (1120.SE) rising 2% after posting a 48% bounce in quarterly revenue, helped by a rise in web financing and funding earnings, and costs from banking providers. read more
The financial institution reported a web revenue of three.6 billion riyals ($959.92 million) for the interval ended June 30, up from 2.44 billion in the identical interval a yr earlier.
Amongst different gainers, Alinma Financial institution (1150.SE) added over 2% after reporting an increase in quarterly web revenue.
Saudi banks have benefited from progress in mortgages and an financial restoration this yr following the easing of lockdowns imposed to fight the outbreak of coronavirus.
On Thursday, Etisalat reported quarterly web revenue of two.40 billion dirhams ($653.49 million), up from 2.39 billion dirhams a yr earlier.
In a separate bourse submitting, Etisalat additionally accepted a distribution of interim dividend of 40 fils per share for the primary half of 2021.
Nonetheless, the Dubai Monetary Market (DFM.DU) retreated 2.8% following a decline in second-quarter web revenue.
Exterior the Gulf, Egypt’s blue-chip index (.EGX30) closed 0.6% larger, as many of the shares on the index have been in optimistic territory.
The Egyptian Inventory Change will carry the restrict on intraday share worth strikes to twenty% from September, the bourse mentioned on Sunday.
($1 = 3.6726 UAE dirham)
($1 = 3.7503 riyals)
Reporting by Ateeq Shariff in Bengaluru
Modifying by Mark Heinrich
Our Requirements: The Thomson Reuters Trust Principles.