Aug 14 (Reuters) - Saudi Arabia's financial exchange finished marginally lower on Sunday in light of Friday's fall in oil costs, while the Qatari file crawled higher to score up a third continuous meeting of gains.
Oil costs, a vital impetus for the Gulf's monetary business sectors, had dropped around 2% on assumptions that supply disturbances in the U.S. Bay of Mexico would be present moment, while downturn fears obfuscated the interest standpoint.
Saudi Arabia's benchmark index (.TASI) eased 0.1%, hit by a 1.2% fall in Riyad Bank (1010.SE) and a 0.7% slip in Saudi British Bank (1060.SE).
Saudi Aramco (2222.SE) shares closed flat, despite the state oil giant reporting a steep rise in quarterly profit.
Aramco on Sunday recorded its highest quarterly profit since going public in 2019, boosted by higher oil prices and refining margins.
Crude prices have soared in 2022 to their highest since 2008, climbing above $139 a barrel in March after the United States and Europe imposed sanctions on Russia over its invasion of Ukraine.
Prices have since eased to below $100 a barrel as soaring inflation and higher interest rates raise fears of a recession that would erode demand.
Net profit increased 90% to 181.64 billion riyals ($48 billion) for the quarter to June 30 from 95.47 billion riyals a year earlier and compared with a mean estimate from 15 analysts of $46.2 billion.
Aramco declared a second-quarter dividend of $18.8 billion, in line with its own target, to be paid in the third quarter.
In Qatar, the index (.QSI) gained 0.4%, with Industries Qatar (IQCD.QA) advancing 1.8%.
The petrochemical maker rose for a fifth session in six after last week posting a sharp rise in first-half net profit.
Outside the Gulf, Egypt's blue-chip index (.EGX30) was flat, as declines in financial shares were offset by gains elsewhere.
Among the gainers, Telecom Egypt (ETEL.CA) jumped 3.9%.
On Thursday, the telecom operator reported second-quarter net profit of 2.42 billion Egyptian pounds ($127 million), up from 1.75 billion Egyptian pounds a year ago.
| SAUDI ARABIA | (.TASI) fell 0.1% to 12,514 |
| QATAR | (.QSI) rose 0.4% to 13,796 |
| EGYPT | (.EGX30) was flat at 9,984 |
| BAHRAIN | (.BAX) added 0.8% to 1,912 |
| OMAN | (.MSX30) up 0.1% to 4,626 |
| KUWAIT | (.BKP) lost 0.7% to 8,525 |
($1 = 19.0800 Egyptian pounds)
($1 = 3.7540 riyals)
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