On Tuesday, the performance of stocks in Gulf Cooperation Council countries was mixed. The Abu Dhabi market index in the UAE rose 0.045% to 9067.42 points, while the Dubai market index fell 0.11% to 4155.77 points. The main Saudi index, TASI, recorded losses for the second month in a row despite rising for the second session in a row by 0.2%. ACWA Power and Middle East Pharmaceutical Manufacturing rose by 1.7% and 2.5%, respectively, while Saudi Arabian Mining fell by 2.1%.
The Saudi Mining Company “Maaden” made an announcement about plans to acquire a share of Mosaic Fertilizer Manufacturing Company’s stake in a joint venture to produce phosphate through an offering of shares worth approximately $1.5 billion. The general index of Kuwait Stock Exchange increased by 0.12% to 7,051.05 points with a trading volume of over 226 million shares through more than 15,269 cash transactions worth over $52 million dinars on Tuesday afternoon.
In Bahrain, the general index rose by 0.13% to reach a high of over two thousand two hundred ninety-six dinars per share on Tuesday evening after reaching more than three million shares traded with over one billion dinars executed through more than one hundred transactions on Monday afternoon. Despite this positive trend, Qatar’s stock market fell by over two percent on Tuesday night due to declining shares from Qatar International Islamic Bank and Barwa Real Estate, causing losses for two consecutive sessions