Most Gulf markets ease on oil, earnings

About this update from Salik Company Pjsc

By Ateeq Shariff Most stock markets in the Gulf ended lower on Thursday amid persistently weak oil prices and a string of lackluster corporate earnings reports.Saudi Arabia's benchmark index TADAWUL:TASI dropped 0.7%, hit by a 0.6% fall in Al Rajhi Bank TADAWUL:1120 and a 1.4% decrease in Saudi National Bank TADAWUL:1180. Elsewhere, oil behemoth Saudi Aramco TADAWUL:2222 lost 0.4%.Oil prices - a catalyst for the Gulf's financial markets - edged up on Thursday, taking a break after major losses in the previous session, as investors weighed concerns about global oversupply with looming sanctions against Russia's Lukoil.The world oil market will see a small surplus in 2026 after OPEC+ production increases and higher supply from other producers, an OPEC report showed on Wednesday, a further shift from its earlier projections of a deficit.Dubai's main share index DFM:DFMGI retreated 0.8%, weighed down by a 4.7% slide in Emirates NBD DFM:EMIRATESNBD, while Salik Company DFM:SALIK was down 1.9%. The toll operator reported a year-over-year increase in third-quarter net profit, but experienced a sequential decline from the previous quarter.In Abu Dhabi, the index ADX:FADGI lost 0.4%, with Presight AI Holding ADX:PRESIGHT plunging 9.8%, despite reporting a rise in quarterly profit.The Qatari index QSE:GNRI tumbled 1.1%, with Qatar Islamic Bank QSE:QIBK declining 2.4%.Outside the Gulf, Egypt's blue-chip index EGX:EGX30 eased 0.1%, with Commercial International Bank EGX:COMI falling 1.7%.Saudi ArabiaTADAWUL:TASI fell 0.7% to 11,178Abu DhabiADX:FADGI lost 0.3% to 9,961DubaiDFM:DFMGI dropped 0.8% to 5,991QatarQSE:GNRI declined 1.1% to 11,082EgyptEGX:EGX30 eased 0.1% to 40,191BahrainBAHRAIN:BHBX was down 0.4% to 2,066Oman(.MSX30) added 0.1% to 5,723Kuwait(.BKP) finished flat at 9,443

View stock analysis, news, and events for Salik Company Pjsc