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buy apple account(buyappleacc.com):MIDEAST STOCKS-Most major stock markets in red, tracking oil prices

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Aug 17 - Most major stock markets in the Gulf fellin early trade on Tuesday on lower oil prices, while the AbuDhabi index rose, lifted by extended gains in conglomerateInternational Holding (IHC).

Brent crude was down 51 cents, or 0.7%, at $69.00per barrel as of 0703 GMT, on concerns over slowing demand amida spike in the Delta variant of coronavirus infections.

Saudi Arabia's benchmark index declined 0.3%, withAl Rajhi Bank losing 0.7% and Saudi National Bank, the kingdom's largest lender, falling 0.7%.

Meanwhile, oil behemoth Saudi Aramco is looking to raise atleast $17 billion from the sale of a significant minority stakein its gas pipelines, higher than the $12.4 billion raised fromits oil pipeline deal, Reuters reported on Monday, citingsources familiar with the matter.

However, Aramco traded flat.

Dubai's main share index lost 0.3%, with EmiratesNBD Bank dropping 0.7% and Emirates IntegratedTelecommunications retreating 1.2%.

On the other hand, DAMAC Properties gained 0.8%.On Sunday, the developer reported narrowing second-quarter netlosses.

The Qatari benchmark eased 0.1%, hit by a 0.6% fallin Commercial Bank.

However, dairy and juice maker Baladna leapt about3%, after it signed a memorandum of collaboration to producefresh dairy products in Malaysia.

In Abu Dhabi, the index gained 0.4%, withInternational Holding rising 1.2%, on course to extendgains for a seventh session.

Last week, IHC reported a net profit of 4.36 billion dirhams($1.19 billion) for the period ended June 30, up from 814million dirhams a year ago.

The company's market capitalisation hit 201.7 billiondirhams in late June, making it Abu Dhabi's most valuable listedfirm, after the market debut of Alpha Dhabi, inwhich IHC holds a 45% stake. REUTERS


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