MidEast Shares Mixed As Investors Fret Over Turkey's Woes

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MidEast shares were mixed, with pressure coming from worries over Turkey’s economy amid the lira’s freefall, but volumes were lightening ahead of the Muslim festival of Eid al-Adha.

First Abu Dhabi Bank gained with its small exposure to Turkey.

In company news, Dana Gas said Q2 net profit dropped 14%, citing one-off sukuk restructuring costs.

Burgan Bank dropped amid worries about its exposure to Turkey. but it said it had not seen any major impact on its profitability as a result of the recent fall in the Turkish lira.

Saudi Arabia’s main index index dipped 0.4% to 7,866 points, Dubai eased 0.8% to 2,818 points, Abu Dhabi jumped 1.1% to 4,886 points, Qatar shed 0.5% to 9,592 points, Kuwait slipped 0.1% to 5,372 points, Bahrain gained 0.2% to 1,343 points, Oman added 0.4% to 4,389 points and Egypt was flat 15,357 points.

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