Qatar leads Gulf markets higher; Kuwait slips

The Qatar stock market ended higher on Sunday, boosted by gains in communications, energy and finance stocks, while Kuwait shares hit a two-month low with industry and finance sectors leading the losses.

The Qatari benchmark index was up for a second straight session and rose 1% with almost all sectors in positive territory.

Qatar Gas Transport and Ooredoo advanced 1.9% and 3.6%, respectively while Qatar National Bank, the region’s largest lender, gained 0.7%.

In Kuwait, the benchmark index slipped 1.3% and closed at 7,873, the lowest in two months with most sectors in the red, led by industry and finance.

National Bank of Kuwait, the country’s largest lender, dropped 2.3% and Kuwait Finance House declined 1.5%.

Among other losers, Agility Public Warehousing and Gulf Bank slid 3% and 3.6%, respectively.

Outside the Gulf, Egypt’s blue-chip index retreated 1.2% after two consecutive session of gains with most sectors in negative territory. Talaat Mostafa decreased 6.6% and Commercial International Bank lost 1.5%.

SAUDI ARABIA Closed

KUWAIT lost 1.3% to 7,873

QATAR rose 1% to 9,910

EGYPT was down 1.2% to 28,152

BAHRAIN ended flat at 2,021

OMAN added 0.2% to 4,689