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The US president said that a ceasefire would be possible "tomorrow" if Hamas gave up Israeli hostages
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UAE bourses show mixed trends
Dubai’s DFM General Index fell 0.7 per cent to close at 1,535.71 points. Abu Dhabi’s ADX General Index gained 0.2 per cent to close at 2,467.96 points.
Kuwaiti shares declined to the lowest level in three weeks after National Bank of Kuwait, the country’s biggest lender, reported a 40 percent drop in second- quarter profit, missing analysts’ estimates.
National Bank of Kuwait, or NBK, plunged the most since November 2009. Mena Real Estate Co, a property developer, retreated 11 per cent. The benchmark index retreated 0.4 per cent to 5,813.62, the lowest since June 28, at the close in Kuwait. The measure has declined 0.8 per cent this week. The Bloomberg GCC 200 Index declined 0.2 per cent.
NBK’s earnings show that “overall corporate earnings for Kuwaiti companies for the second quarter” may decline, said Mandagolathur Raghu, head of research at investment bank Kuwait Financial Centre. Qatar’s QE Index dropped 0.6 per cent and Oman’s MSM30 Index declined 0.5 per cent. Bahrain’s gauge added 0.1 per cent. Saudi Arabia’s stock market was closed for the weekend. —
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