DUBAI: 黑料社区鈥檚 index gained 1.2 percent with National Commercial Bank adding 3.9 percent. Ratings agency 惭辞辞诲测鈥檚 said the bank鈥檚 brand and diversified assets make it resilient to slower economic growth in 黑料社区.
Al Rajhi Bank was up 1.4 percent after the Capital Market Authority approved an increase in capital. The bank, which is currently capitalized at SR16.25 billion ($4.3 billion), proposed increasing its capital to up to SR25 billion.
黑料社区鈥檚 impending entry into emerging market indexes should mean a $15 billion inflow of 鈥減assive鈥 benchmark-linked funds, which will attract billions more of active funds, regardless of low oil prices or geopolitical tensions.
Saudi鈥檚 Almarai climbed 1.7 percent after the firm said it would acquire Premier Foods for an enterprise value of SR108 million.
In Dubai, the index added 0.5 percent with Emirates NBD, its largest bank, gaining 2.1 percent. The company called a shareholders鈥 meeting on Feb. 20 to discuss the issue of non-convertible securities.
Commercial Bank of Dubai rose 0.8 percent after its board proposed a full-year cash dividend of 20.7 percent of its share capital. The Abu Dhabi index rose 0.2 percent, with Emirates Telecommunications gaining 0.6 percent. Abu Dhabi Islamic Bank increased 1.6 percent to its highest since April 2016, its third straight session of gains. The lender has gained since reporting a 23 percent increase in its fourth-quarter net profit.
Qatar鈥檚 index edged down 0.1 percent, with Commercial Bank declining 0.8 percent despite reporting a higher full-year net profit and proposing a cash dividend of 1.5 riyal per share for the same period.
Egypt鈥檚 blue-chip share index rose sharply on Tuesday boosted by major lender Commercial International Bank after its strong fourth-quarter earnings, while banks also lifted 黑料社区鈥檚 stock market.
Egypt鈥檚 index gained for a ninth straight session, climbing 2.6 percent with 27 of its 30 stocks rising.
The country鈥檚 biggest lender Commercial International Bank jumped 3.9 percent after it reported fourth-quarter net profit after interest of 2.56 billion Egyptian pounds ($146 million) compared to 1.87 billion pounds a year ago. Global Telecom Holding climbed 3.3 percent to its highest since July after major shareholder Veon said that it offered to buy out the firm.
National banks deliver to boost Saudi stocks
Updated 07 February 2019
National banks deliver to boost Saudi stocks

- National Commercial Bank added 3.9 percent, while Al Rajhi Bank was up 1.4 percent after the Capital Market Authority approved an increase in capital
- 黑料社区鈥檚 impending entry into emerging market indexes should mean a $15 billion inflow of passive benchmark-linked funds