Saudi leads declines across Gulf

Saudi Arabia's main index led declines across the Gulf on Wednesday as Saudi Basic Industries Corp. (SABIC) and Al-Rajhi Bank fell.

SABIC slipped 2.15 percent and Al-Rajhi ended 1.4 percent lower. The index slipped 1.55 percent to 9,581.34 points.

Shares of Aldar Properties felll more than 3.45 percent and Abu Dhabi National Energy Co. (Taqa) closed 3.65 percent, pushing the index down 0.77 percent to 4,960.01 points.

In Dubai, the index closed 0.09 percent lower at 5,454.32 points as Emirates NBD inches down 0.42 percent.

Kuwait's index fell for the first time in eight days, snapping a record-breaking rally driven by banking shares.

Mobile Telecommunications Co. (Zain) and Kuwait Finance House led losses, ending 1.22 percent and
2.05 percent down respectively. The index ended 0.36 percent down 15,598.7 points.

Oman's main benchmark dropped 0.32 percent to 11,512.62 points with Bank Muscat and National Bank of Oman ending 0.76 percent and 1.42 percent down respectively.

Gulf Finance House weighed on Bahrain, falling 1.9 percent. The index finished 0.32 percent down at 2,841.87 points.

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