Saudi Arabia’s stock market was flat in early trading on Tuesday, ahead the budget which will be announced after the market closes.
Najran Cement gained 0.9 per cent as Northern Region cement slipped 1.0 per cent.
The budget will be announced after the market closes on Tuesday and is expected to feature a moderate increase in spending as the government seeks to lift flagging economic growth.
Dubai’s index edged down 0.1 per cent as builder Drake & Scull, the most heavily traded stock, added 1.8 per cent. The company does business in Saudi Arabia, reports Reuters.
Qatar’s index gained 1.0 per cent as real estate firm Ezdan Holding jumped 6.1 per cent.
It plunged 57 per cent between the start of 2017 and mid-November.
Barwa Real Estate climbed 3.1 per cent after saying it signed a 27-year contract with the government to lease two plots of land on which it would develop a residential area for foreign workers.