July 12, 2018 / 1:37 PM / a month ago

MIDEAST STOCKS-Most markets slightly down on oil price concerns

* Oil price concerns drag most markets slightly down

* Saudi’s Khodari jump 1.5 percent on renewal of Islamic facility

* Dubai’s Emaar rebounds from previous session decline

By Marwa Rashad

RIYADH, July 12 (Reuters) - Most stock markets in the region closed on a slightly negative note on Thursday amid concerns about oil price declines and absence of local catalysts that would push the markets higher.

Brent crude prices had slumped $5.46 or 6.9 percent on Wednesday after U.S. President Donald Trump threatened new tariffs on China and Libya said it would resume oil exports. Prices recouped some losses on Thursday and traded around $74.30 by 1210 GMT.

The Saudi index lost 0.3 percent with 96 declining stocks out of 179 stocks traded.

National Commercial Bank, the kingdom’s largest lender by assets, fell 2.3 percent. Property developer Jabal Omar lost 2.2 percent, and petrochemical giant SABIC , shed 0.5 percent.

Contractor Al Khodari jumped 1.5 percent after it said on Thursday that it renewed an existing, 231.4 million-riyal Islamic facilities agreement with Riyad Bank.

Samba Bank and Al Jazira Bank rose 0.9 percent and 1.4 percent respectively.

In Dubai, the index shed 0.3 percent on a 2.9 percent drop by Dubai Investment Company.

Property developer Emaar rebounded from the previous session’s 2.2 percent decline to close 0.8 percent higher. Emirates NBD added 1.0 percent.

Abu Dhabi’s index closed flat. Aldar Properties fell 0.9 percent; Dana Gas jumped 1.9 percent.

Doha’s main index closed 0.4 percent lower. The main drag was Qatar National Bank falling 1.6 percent.

In Egypt, the main index lost 0.4 percent, hurt by a 1.9 percent decline by Commercial International Bank MCOMI.CA> and a 3.1 percent drop by property developer Talaat Mostafa .

SAUDI ARABIA * The index lost 0.3 percent to 8,362 points. DUBAI * The index shed 0.3 percent to 2,884 points. ABU DHABI * The index closed flat at 4,687 points. QATAR * The index went down 0.4 percent to 9,319 points. KUWAIT * The index fell 0.6 percent to 5,334 points. BAHRAIN * The index closed flat at 1,343 points. OMAN * The index lost 0.3 percent to 4,441 points. EGYPT * The index shed 0.3 percent to 15,901 points. (Reporting by Marwa Rashad; Editing by Toby Chopra)

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