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MIDEAST STOCKS-Saudi Arabia index closes at lowest since early April

ReutersMay 27, 2025 1:47 PM

- Saudi Arabia's main stock index closed down on Tuesday, reaching its lowest level since April 7 as market sentiment remains fragile due to the unpredictability of U.S. President Donald Trump's tariffs policy.

The index .TASI shed 1.30% on Tuesday, underperforming its peers in the Middle East. Healthcare services provider AlMoosa Health Company 4018.SE was the top loser on the index, down 7.29%.

Saudi Aramco 2222.SE is also seeking to raise funds through a dollar-denominated three-part bond sale, with the country's oil giant also exploring potential asset sales to release funds to pursue international expansion as reported last week.

Oil prices were little changed on Tuesday, with Brent crude futures down 28 cents, or 0.4%, at $64.46, on expectations of OPEC+ to increase output at a meeting later this week. O/R

Dubai's main share index .DFMGI closed up 0.37%, with Amlak Finance AMLK.DU extending gains and closing up 5.61%. The company announced a board meeting for later this week to discuss asset sales and a potential exit from its real estate finance portfolio. The stock hit its highest level since 2008.

In Abu Dhabi, the benchmark index .FTFADGI settled up 0.16%.

The Qatari benchmark stock index .QSI fell 0.78%, with dairy producer Baladna Company BLDN.QA down 1.28%.

Qatar National Bank QNBK.QA, the largest bank in the region by assets, closed down 1.10%.

Outside the Gulf, Egypt's blue-chip index .EGX30 settled up 1.49% with financial services provider Beltone Financial Holding BTFH.CA up 6.76% and automotive company GB Auto GBCO.CA up 6.30%.

Egypt's central bank lowered its overnight interest rates by a less-than-expected 100 basis points last week.

SAUDI ARABIA

.TASI down 1.36% to 10,925.18

ABU DHABI

.FTFADGI up 0.16% to 9,673.97

DUBAI

.DFMGI up 0.37% to 5,504.6

QATAR

.QSI down 0.78% to 10,648.36

EGYPT

.EGX30 up 1.49% to 32,397.38

BAHRAIN

.BAX up 0.08% to 1,922.46

OMAN

.MSX30 up 0.42% to 4,529.7

KUWAIT

.BKP up 0.48% to 8,744.2

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