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Maqsood Alam

MIDEAST STOCKS-Egypt rises on foreign capital flows as most of Gulf gains

04 Dec 2019

* 27 of 30 Egyptian blue chips rise * El Sewedy Electric gains on solar project win * Telco Etisalat lifts Abu Dhabi * ENBD supports Duabi * Banks weak in Saudi Arabia By Maqsood Alam Dec 4 Egyptian blue chips rose on Thursday, with foreign investors net buyers and local investors net sellers. Most Gulf equity markets also gained as oil prices rose. Oil prices boosted markets, gaining nearly 2% on expectations that OPEC and its allies would extend output cuts when they met in Vienna later this week. In addition industry data showed the U.S. crude stockpile fell more than forecast. Egyptian blue-chip index snapped a three-session losing streak and closed 1.2% up with Talaat Mostafa Group Holding rising 3.5%. El Sewedy Electric added 1.4% after the government of South Sudan awarded a contract worth about $45 million to build a hybrid solar project. Qatar's index rose 0.8%. Qatar Islamic Bank gained 1.2% and Industries Qatar 1.1%. Dubai and Abu Dhabi stock markets rose in their first trading after three days of public holidays. The Dubai index was up 0.6%, led by a 2.6% rise in Emirates NBD Bank. The bank had fallen on Thursday after cutting 400 to 500 jobs since October, Reuters reported, citing sources, as banks in the United Arab Emirates reduced costs amid slower economic growth. Abu Dhabi's index was up 0.3% as Emirates Telecommunications Group gained 1.1%. However, the Saudi index slipped 0.2% as investors appeared to have directed their money into oil giant Saudi Aramco's initial public offering. Saudi institutions have oversubscribed by almost three times the shares allocated to them as part of Aramco's IPO, submitting orders worth 189.04 billion riyals ($50.4 billion) as of Tuesday. Institutional subscription to Aramco's IPO concludes on Wednesday. SAUDI ARABIA fell 0.2% to 7,871 points ABU DHABI gained 0.3% to 5,048 points DUBAI rose 0.6 % to 2,696 points QATAR was up 0.8% to 10,272 points EGYPT rose 1.2% to 13,636 points BAHRAIN gained 0.2 % to 1,544 points OMAN Slipped 0.4% to 4,040 points KUWAIT was up 0.3% to 6,644 points (Reporting by Maqsood Alam in Bengaluru, editing by Larry King)

MIDEAST STOCKS-Saudi rises on strong private sector data, Egypt extends losses

03 Dec 2019

* All Saudi banks gain * SADAFCO rises on higher H1 dividend * Lender COMI weighs on Egypt By Maqsood Alam Dec 3 Saudi Arabia's stock market rose on Tuesday on the back of rising oil prices and robust non-oil private sector data, while Egypt fell as the same sector there dropped to a more than two-year low in the last month. Oil prices edged higher on expectations of deeper output cuts when OPEC and its allies meet this week. Brent futures rose 43 cents to $61.35 a barrel by 0924 GMT. Saudi Arabia is pushing for the cut in oil supplies to deliver a positive surprise to the market before the listing of state-owned oil giant Saudi Aramco, the sources said. Aramco plans to sell 1.5% of its shares in a deal that could raise up to $25.6 billion for which Institutional investors have already put in 144.1 billion riyals ($38.4 billion) worth of bids. Institutional investors still have until Wednesday to place orders. The kingdom's seasonally adjusted Purchasing Managers' Index (PMI) rose to 58.3 in November, up from 57.8 in October and the highest in over four years. Any reading above 50 indicates expansion. Saudi's index closed 0.6% up with Al Rajhi Bank increasing 1.1% and Riyad Bank adding 2.5%. Saudia Dairy And Foodstuff (SADAFCO) rose 2.5% after its board recommended a higher dividend for the first half. In Egypt, the blue-chip index was down 0.5% in its third session of consecutive losses with the market heavyweight Commercial International Bank Egypt shedding 0.5%. Activity in Egypt's non-oil private sector fell to a more than two-year low in November, a survey showed on Tuesday. Qatar's index traded flat as Qatar Islamic Bank slipped 1.7%, while Industries Qatar rose 1.2%. The Dubai and Abu Dhabi stock markets are closed for three days of public holidays and will resume trading on Wednesday. SAUDI ARABIA was up 0.6% to 7,883 points QATAR was flat at 10,186 points EGYPT was down 0.5% to 13,470 points BAHRAIN was up 0.2% to 1,541 points OMAN slipped 0.5% to 4,057 points KUWAIT was down 0.6% to 6,623 points (Reporting by Maqsood Alam in Bengaluru; Editing by Giles Elgood)

MIDEAST STOCKS-Major Gulf markets fall as Aramco IPO oversubscribed

02 Dec 2019

* Nine of 11 Saudi banks fall * Leejam Sports slips on lower third quarter dividend * 27 of 30 Egyptian blue-chips decline * KFH lifts Kuwait after AUB acquisition nod By Maqsood Alam Dec 2 Most Middle Eastern markets dropped on Monday as investors appeared to have offloaded their positions to invest back into Saudi Aramco's initial public offering (IPO) which was oversubscribed by more than twice the number of shares on offer. Institutional investors have already put in 144.1 billion riyals ($38.4 billion) worth of bids for Aramco's planned IPO, which is more than double the capital it seeks to raise from institutions, financial advisers for the IPO said on Monday. Institutional investors still have until Dec. 4 to place orders. OPEC and its allies plan to deepen oil cuts and have the deal in place so it runs at least until June 2020 as Saudi Arabia wants to deliver a positive surprise to the market before the listing of Saudi Aramco, two sources familiar with the talks said. Saudi Arabia's benchmark index closed down 0.9% with Al Rajhi Bank slipping 1% and Saudi Basic Industries shedding 1.9%. Leejam Sports Company lost 1.1% after the gym network operator proposed a lower dividend for the third quarter compared with the same period last year. Egypt's blue-chip index dropped 1.7% as most of its members traded lower. Commercial International Bank Egypt fell 1% and El Sewedy Electric declined 4.7%. Local and Arab foreign investors were net sellers of Egyptian shares, according to the stock exchange data. The Qatar's index slipped back 0.1% after snapping a three-day losing streak in the previous session. Mesaieed Petrochemical Holding shed 1.9% and Industries Qatar was down 0.5%. However, Kuwait's index closed up 0.4%, buoyed by gains in banking shares. National Bank of Kuwait edged up 0.1%. Kuwait Finance House added a further 0.8% to previous session's gain following Bahrain central bank's approval for acquisition of Ahli United Bank. Dubai and Abu Dhabi stock markets are closed for three-day public holiday and will resume trading on Dec. 4. SAUDI ARABIA was down 0.9% to 7,833 points QATAR slipped 0.1% to 10,182 points EGYPT fell 1.7% to 13,538 points BAHRAIN was up 0.3% to 1,538 points OMAN was flat at 4,075 points KUWAIT was up 0.4% to 6,662 points (Reporting by Maqsood Alam in Bengaluru Editing by Chizu Nomiyama)

CORRECTED-MIDEAST STOCKS-Markets advance on hopes of reduced Gulf tensions

01 Dec 2019

(Corrects day in second paragraph to Thursday from Saturday) * Qatar ends three-day losing streak * Ataa Educational boosted by potential Kingdom Schools deal * Egypt's Qalaa Holding drops on Pharos downgrade By Maqsood Alam Dec 1 All major Gulf stock markets closed higher on Sunday on hopes that a reported visit by Qatar's foreign minister to Riyadh would ease a rift between Gulf states. Qatar's foreign minister made an unannounced visit to Saudi Arabia, sources told Reuters on Thursday. Saudi Arabia, United Arab Emirates, Bahrain and Egypt had cut diplomatic and trade links with Qatar in June 2017, accusing Doha of backing terrorism. Qatar denies the charge. OPEC and allied oil producers, meanwhile, will consider further oil supply cuts when their leaders meet in Vienaa this week, Iraq's oil minister said on Sunday, in a move expected to support oil prices. In Saudi Arabia, the benchmark index was up 0.6%, with Al Rajhi Bank advancing 1.6% and Saudi Basic Industries up 0.9%. Ataa Educational added 2.2% after a non-binding memorandum of understanding to acquire 92.1% stake in Kingdom Schools. The Qatar index firmed by 0.4% to end a three-day losing streak. Qatar National Bank, the Gulf's largest lender, gained 1% and Mesaieed Petrochemical Holding added 1.5%. The Kuwaiti index closed 1.8% up, outperforming its Gulf peers, as Kuwait Financial House (KFH) and Boubyan Bank added 4% and 2.1% respectively. The Bahrain central bank approved KFH's acquisition of Ahli United Bank , while Boubyan confirmed it is in advanced talks to buy all remaining shares in BLME Holding. Egypt's blue-chip index fell 0.5%, with Qalaa Holdings shedding 4.3% after brokerage Pharos Research on Thursday cut its valuation of the investment company to 2.70 Egyption pounds per share from 3.29 pounds. Orascom Investment Holding slipped 2.4% as its third-quarter net profit declined to 62.6 million Egyptian pounds ($3.90 million) from 1.22 billion pounds a year earlier. The Dubai and Abu Dhabi stock markets are closed for three-day public holidays and will resume trading on Dec. 4. SAUDI ARABIA was up 0.6% to 7,902 points QATAR gained 0.4% to 10,192 points EGYPT fell 0.5% to 13,781 points BAHRAIN rose 0.4% to 1,533 points OMAN was up 0.3% to 4,074 points KUWAIT rose 1.8% to 6,633 points ($1 = 16.0600 Egyptian pounds) (Reporting by Maqsood Alam in Bengaluru Editing by David Goodman)

MIDEAST STOCKS-Financials lift UAE indexes, poor earnings weigh on Egypt

14 Nov 2019

* Emirates NBD lifts Dubai * Lender FAB supports Abu Dhabi * Telecom Egypt drops on lower Q3 Profit * Seven of 11 Saudi banks slip By Maqsood Alam Nov 14 Stock markets in the United Arab Emirates rose on Thursday, lifted by banking shares, while a host of disappointing corporate earnings weighed on Egypt's bourse. Egypt's blue-chip index was down 0.4% with foreigners net sellers, according to Egyptian stock exchange data. Telecom Egypt fell 1.4% as a drop in third-quarter profit weighed on the stock. Alexandria Mineral Oils fell 4.9%, down for a fourth consecutive session. On Wednesday, the oil company reported an 87% plunge in first-quarter profit Sidi Kerir Petrochemicals Company and Madinet Nasr For Housing And Development lost 4.5% and 2.2% respectively after reporting lower nine-month profit earlier this week. Dubai’s index closed 1.9% higher with its largest lender Emirates NBD surging 5.9% after it sold shares in Network International Holdings for 160 million pounds ($204.74 million). Dubai Islamic Bank added 1.5%. The Abu Dhabi index advanced 1.3% with First Abu Dhabi Bank rising 2.9% and telecoms operator Etisalat gaining 0.4%. Qatar's index was up 0.8% with the Gulf's largest lender Qatar National Bank and Qatar Fuel both increasing 1.9%. Saudi Arabia's index edged down 0.1% with seven of its 11 banks falling. Banque Saudi Fransi lost 2.7%, while Saudi British Bank dropped 2.1%. Taiba Investments slipped 1.9% as it traded ex-dividend. SAUDI ARABIA The index edged down 0.1% to 7,924 points ABU DHABI The index rose 1.3% to 5,138 points DUBAI The index rose 1.9% to 2,701 points QATAR The index was up 0.8% to 10,363 points EGYPT The index fell 0.4% to 14,546 points BAHRAIN The index was down 0.4 to 1,505 points OMAN The index was up 0.4% to 4,084 points KUWAIT The index edged down 0.2 to 6,254 points (Reporting by Maqsood Alam in Bengaluru; Editing by Kirsten Donovan)

MIDEAST STOCKS-Saudi stocks fall as most of Gulf markets rise

13 Oct 2019

* Bank shares slip on Saudi market * But Qatar banks rise, boosting main index * Arabtec jumps on Trojan merger plan * Lender CIB leads losses in Egyptian blue chips By Maqsood Alam and Shamsuddin Mohd Oct 13 Saudi Arabian stocks fell on Sunday led by banks, while most Gulf markets gained, mirroring Friday's surge in global peers after talks between the United States and China progressed towards a resolution of their trade war. Saudi Arabia's index retreated 0.8%. The kingdom's largest lender National Commercial Bank and Riyad Bank dropped 2.4% and 2.3%, respectively, ahead of company earnings season starting this week. The banking stocks also fell as the Saudi central bank said on Sunday that financial institutions in Saudi Arabia should hire Saudi nationals for leading positions and, if they hire foreigners, they will have to explain the reason to the regulator. The Saudi bourse's main index has fallen in eight of nine sessions this month, leaving it down 2.5% year to date. It had gained more than 20% in the first four months of 2019 in the run up to joining the MSCI and FTSE emerging-market indexes, which helped attract billions of dollars from passive funds. However, escalating trade tensions, volatile oil prices and growing geopolitical risks have hit the market since then and kept active emerging market funds from investing in the kingdom. But gains in banking stocks boosted the Qatar index which rose 0.6% with Masraf Al Rayan up 1.4%, and Qatar National Bank adding a further 0.3% to the previous session's gain after posting an increase in nine-month net profit. Dubai's main share index was up 0.5%, led by a 2 % rise in blue-chip developer Emaar Properties. Contractor Arabtec Holding surged 8.9% after hiring an adviser on a potential merger with another construction firm Trojan Holding, Reuters reported citing sources. In Abu Dhabi, the index edged up 0.3%. International Holding Company climbed 8.8% and Abu Dhabi Commercial Bank rose 0.8%. Outside the Gulf, Egypt's blue-chip index was down 0.6% with market heavyweight Commercial International Bank declining 1%. However, steel makers Ezz Steel and Egyptian Iron And Steel both closed up 2.2% and 1.4% respectively, buoyed by Egypt imposing temporary import fees of 16% on iron billets and 25% on steel rebar for three years, a move designed to boost local production. SAUDI ARABIA The index was down 0.8% to 7,631 points ABU DHABI The index was up 0.3% to 5,088 points DUBAI The index rose 0.5% to 2,824 points QATAR The index was up 0.6% to 10,285 points EGYPT The index fell 0.6% to 14,220 points BAHRAIN The index was down 0.2% to 1,520 points OMAN The index was flat at 4,012 points KUWAIT The index was up 0.2% to 6,226 points (Reporting by Shamsuddin Mohd and Maqsood Alam in Bengaluru; Editing by Emelia Sithole-Matarise)

MIDEAST STOCKS-Egyptian stocks gain after inflation data, Saudi extends losses

10 Oct 2019

* Saudi Arabia falls for a fourth day * Lender CIB supports Egypt * Banks, petchems weigh on Saudi * QNB rises on 9-month profit rise By Maqsood Alam and Shamsuddin Mohd Oct 10 Egyptian blue-chip stocks rose on Thursday after data showed consumer price inflation dropping to its lowest level in almost seven years, while Saudi Arabia fell for a fourth straight session. Egypt's annual urban consumer price inflation slowed to 4.8% in September from 7.5% in August, clearing the way for the central bank to cut interest rates further after two consecutive months of easing. Inflation has been slowing in recent months as Egypt approaches the end of an IMF-backed economic reform programme that saw the annual inflation rate rise to 33% during 2017. Egypt's blue-chip index closed 0.8% higher with market heavyweight Commercial International Bank rising 0.3% and Cairo for Investment and Real Estate Development adding 3.9%. Stock exchange data showed that foreign investors were net-buyers of Egyptian stocks. In Saudi Arabia, the benchmark index slipped 0.3%. Al Rajhi Bank dropped 1.2%, while the world's fourth largest chemical maker Saudi Basic Industries (SABIC) was down 0.8%. Saudi Arabia told OPEC that its oil production in September fell by 660,000 barrels per day (bpd) compared with August to 9.13 million bpd in the wake of attacks on its energy installations. However, secondary sources put last month's production at just 8.56 million bpd, OPEC's monthly report showed. Mid-September attacks targeted two of state oil giant Saudi Aramco's plants, knocking out half of the kingdom's oil production. Abu Dhabi's index closed 0.4% higher led by a 0.8% rise in blue-chip lender First Abu Dhabi Bank and a 1% gain in Aldar Properties . In Qatar, the index was up 0.3%. Qatar National Bank climbed 1.2% after the Gulf's biggest lender reported a 4% increase in nine-month net profit, broadly in line with analyst estimates. In Dubai, the index traded flat with developer Emaar Properties increasing 1.1%. SAUDI ARABIA The index was down 0.3% to 7,695 points ABU DHABI The index was up 0.4% to 5,073 points DUBAI The index was flat at 2,810 points QATAR The index edged up 0.3% to 10,228 points EGYPT The index rose 0.8% to 14,302 points BAHRAIN The index was up 0.3% to 1,523 points OMAN The index was down 0.7% at 4,014 points KUWAIT The index was up 0.3% to 6,213 points (Reporting by Maqsood Alam and Shamsuddin Mohd in Bengaluru; Editing by Kirsten Donovan)

MIDEAST STOCKS-Financials drag most of Gulf lower, Saudi underperforms

09 Oct 2019

* Saudi falls in six of seven sessions this month * SABIC extends losses after Fitch downgrade * Lender CIB weighs on Egypt * Banks slip in Abu Dhabi, Qatar * But financials boost Dubai * By Maqsood Alam and Shamsuddin Mohd Oct 9 Most major Gulf markets traded in the red on Wednesday with weakness in banking shares weighing and Saudi Arabian stocks underperforming their regional peers. Saudi Arabia’s index fell 1.5%. Al Rjahi Bank declined 2.5% and the Country’s biggest lender National Commercial Bank slid 2.2%. Saudi Basic Industries (SABIC) shed 1.8%, extending losses following its downgrade by Fitch on Monday. Fitch downgraded SABIC and Saudi Aramco to A from A+ after attacks last month on two oil production facilities. It also considered rising geopolitical tensions in the region and the country's continued fiscal deficit. The rating agency downgraded Saudi Arabia's credit rating to A from A+ on Sept. 30. The index has fallen in six of seven sessions this month, leaving it down 1.4% year to date. It had gained more than 20% in the first four months of 2019 in the run up to joining the MSCI and FTSE emerging-market indexes, which helped attract billions of dollars from passive funds. However, escalating trade tensions, volatile oil prices and growing geopolitical risks have hit the market since then and kept active emerging-market funds from investing in the kingdom. An analysis by Copley Fund Research showed that high valuations and reputation risks have deterred investors. In Egypt, the blue-chip index slipped 1.2% with most of its stocks falling and market heavyweight Commercial International Bank decreasing 1.1%. Stock exchange data showed local investors were net sellers of Egyptian stocks. In Abu Dhabi, the index slipped 0.3%, led by a 0.5% drop in First Abu Dhabi Bank and Abu Dhabi Commercial Bank. Financials also hit the Qatar index, which closed 0.7% lower with Qatar Islamic Bank down 1% and Qatar National Bank (QNB) falling 0.7%. After the market closed, QNB reported a 4% rise in nine-month net profit, broadly in line with analyst estimates. However, banks led gainers on the Dubai index, which rose 0.5. Emirates NBD increased 0.8% and Dubai Islamic Bank was up 0.6%. SAUDI ARABIA The index fell 1.5% to 7,716 points ABU DHABI The index slipped 0.3% to 5,053 points DUBAI The index was up 0.5% to 2,810 points QATAR The index was down 0.7% to 10,198 points EGYPT The index fell 1.2% to 14,183 points BAHRAIN The index was flat at 1,518 points OMAN The index was up 0.1% at 4,040 points KUWAIT The index was down 0.7% to 6,194 points (Reporting by Maqsood Alam and Shamsuddin Mohd in Bengaluru; Editing by Kirsten Donovan)

MIDEAST STOCKS-Oil price fall weighs on Gulf markets, Saudi leads losses

08 Oct 2019

* Nine of 11 Saudi banks drop * Dubai snaps 3-day winning streak * 28 of 30 Egyptian blue chips fall * Abu Dhabi's ADNOC slips on ex-dividend By Maqsood Alam Oct 8 All major Gulf stock markets traded lower on Tuesday with financial shares suffering the biggest losses across the region amid declining oil prices. Saudi Arabia led the declines as most of the kingdom's banks dropped. Oil prices fell as hopes faded for a trade deal between the United States and China, after Washington blacklisted more Chinese companies. The two main benchmarks of crude oil fell 1.3% and 1.5% by 1035 GMT, after having risen almost 1% earlier in the day. Saudi Arabia's index closed down 0.6% with Al Rjahi Bank and Samba Financial Group shedding 1.3% each. With Tuesday's decline, the index is now roughly flat for the year to date. It had gained more than 20% in the first four months of 2019 before joining the MSCI and FTSE emerging-market indexes, which helped attract billions of dollars from passive funds. However, escalating trade tensions, volatile oil prices and growing geopolitical risks have weighed on the market since then and kept active emerging-market funds from investing in the kingdom. Active emerging-market funds have kept away because of high valuations and reputation risks, an analysis by Copley Fund Research showed. Qatar's index slipped 0.3% with market heavyweight Qatar Islamic Bank dropping 2.1%. In Dubai, the index closed 0.2% lower after three consecutive days of gains. Dubai Islamic Bank fell 0.8% and Dubai Investments decreased 1.6%. Abu Dhabi index inched down 0.1%. The United Arab Emirates' largest lender First Abu Dhabi Bank lost 0.4%, and ADNOC Distribution shed 2.6% as the fuel retailer traded ex-dividend. Outside of the Gulf, Egypt's blue-chip index fell 0.6% with 28 of its 30 stocks trading in the red and real estate shares acting as the biggest drag. Real estate investment firm Talat Mostafa slid 2.8%. Stock exchange data showed foreigners were net sellers of Egyptian stocks. SAUDI ARABIA The index fell 0.6% to 7,833 points ABU DHABI The index slipped 0.1% to 5,070 points DUBAI The index was down 0.2% to 2,796 points QATAR The index was down 0.3% to 10,272 points EGYPT The index fell 0.6% to 14,349 points BAHRAIN The index inched down 0.1% to 1,518 points OMAN The index was up 0.2% at 4,036 points KUWAIT The index edged up 0.1% to 6,236 points (Reporting by Maqsood Alam in Bengaluru)

MIDEAST STOCKS-Egypt gains on talks for IMF assistance, Banks weigh on Saudi

07 Oct 2019

* Ezz steel sees biggest intra-day rise in 3 1/2 years * Saudi Advanced falls after delay in Alsalam Aerospace deal * Abo Moati, Al Aseel jump on potential move to main index * Financials boost Dubai, Etisalat buoys Abu Dhabi By Maqsood Alam and Shamsuddin Mohd Oct 7 Egypt's blue-chip shares rose sharply on Monday, boosted by financial shares amid talks over possible further assistance from the International Monetary Fund (IMF), while banking shares dragged down Saudi stocks. Egypt's blue-chip index rose 1.5% in its first day of trading since the central bank governor said Cairo was in talks with the International Monetary Fund (IMF) on further assistance to help it carry out structural reforms. Egypt’s current $12 billion three-year IMF program ends next month. Commercial International Bank gained 1.6% and El Sewedy Electric rose 4.2%. Iron Steel jumped 5.5% while Ezz Steel soared 18.1%, its sharpest single-day percentage gain since March 2016. Egypt has lowered the domestic price of gas for the cement industry to $6 per million Btu from $8 and to $5.50 per million Btu for metals and ceramics sector from $7. Saudi Arabia's benchmark index dropped 1.1% as Al Rajhi Bank fell 1.1% and Riyad Bank shed 2.8%. Saudi Advanced Industries plunged 7.8%, its biggest intra-day fall since November 2017. The firm said an agreement for the sale of its 10% stake in Alsalam Aerospace Industries was extended for a period of six months. But Abdullah Saad Mohammed Abo Moati Stationeries and Al Aseel Company, which trade on the secondary Saudi market NOMU, surged 17.7% and 4.7% respectively following board approvals to move their listing onto the main index. Qatar's index slid 0.1%. The Gulf’s largest Insurer, Qatar Insurance, dropped 2.1%, while Commercial Bank eased 0.9%. In Dubai the index rose 0.8%, extending gains for a third straight session, boosted by advances in banking shares. Dubai Islamic Bank increased 1.9%, while Mashreq Bank soared 13.6% after the lender said its board would approve the third-quarter results next week. Abu Dhabi's index also edged up 0.8%. Emirates Telecommunications Group, which uses Huawei's 5G technology, advanced 1.4%. On Sunday, the chief technological officer of Emirates Integrated Telecommunications said that it saw no evidence of security concerns about Huawei's 5G technology. The United States had raised its concerns with Gulf allies over a possible security risk in using Huawei technology for their 5G mobile infrastructure. SAUDI ARABIA The index fell 1.1% to 7,878 points ABU DHABI The index rose 0.8% to 5,075 points DUBAI The index was up 0.8% to 2,803 points QATAR The index slipped 0.1% to 10,299 points EGYPT The index rose 1.5% to 14,432 points BAHRAIN The index was up 0.5% at 1,519 points OMAN The index was flat at 4,026 points KUWAIT The index was up 1.1% at 6,232 points (Reporting by Maqsood Alam and Shamsuddin Mohd in Bengaluru Editing by Mark Heinrich)

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