- Saudi boosted by banks, telecoms
- Abu Dhabi extends gains
- Banks weak in Dubai, Qatar
- Lender CIB weighs on Egypt
June 8 (Reuters) - Major Gulf markets ended lower on Tuesday, while Abu Dhabi and Saudi Arabia eked out marginal gains, as sentiment was pressured by weak oil prices.
Brent crude was down 58 cents, or 0.8%, at $70.91 a barrel by 1218 GMT, after declining 0.6% on Monday. U.S. West Texas Intermediate oil was off by 55 cents, or 0.8%, at $68.68 a barrel, having dropped by 0.6% in the previous session. read more
The movement in oil prices is a key catalyst for the Gulf region's financial markets.
The lender received an amended offer for its stake in Alexandria Medical Services (AMES.CA). TAT For Medical Services increased the offer price to 700 million Egyptian pounds ($44.87 million) from 650 million offered earlier.
On Monday, Emaar shares rose as much 1.5% after the company reported a more than three-fold jump in property sales for the first five months of 2021.
Outside the Gulf, Egypt's blue-chip index (.EGX30) fell 1.4%, as the country's largest lender, Commercial International Bank (COMI.CA), dropped 2.5% and Fawry For Banking Technology and Electronic Payment (FWRY.CA) lost 4.4%.
In a bright spot, Telecom Egypt (ETEL.CA) jumped 8.9% after the company signed a modified shareholders' agreement with Vodafone Group (VOD.L) whereby Vodafone Egypt Telecommunications (VODE.CA) will pay a one-time dividend of 10 billion Egyptian pounds to its shareholders during 2021. Telecom Egypt owns about 45% of Vodafone Egypt.
($1 = 15.6000 Egyptian pounds)
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