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Most stock markets in the Gulf gave up early gains to close lower yesterday, as investors booked profits and turned cautious ahead of a US Senate vote on President Donald Trump’s landmark tax and spending bill.
Saudi Arabia’s benchmark index dropped 0.4 per cent, weighed by a 2.3pc fall in Saudi Arabian Mining Company. Among other losers, Savola slipped 2.2pc after announcing its CEO had stepped down by mutual agreement as part of a strategic overhaul.
Dubai’s main share index eased 0.2pc, snapping a six-day rally after hitting a 17-year high earlier in the session, hit by a 0.7pc fall in blue-chip developer Emaar Properties. In Abu Dhabi, the index finished 0.3pc lower.
The Qatari index closed 0.5pc lower, extending losses from the previous session when it ended a six-day winning streak, with all sectors in negative territory.
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