JEDDAH: Gulf bourses showed a mixed performance this week as regional markets came under fresh pressure from geopolitical turmoil, renewed eurozone sovereign debt concerns and leaks of second quarter results, financial analysts said Friday. Saudi shares closed week in the black, while the rest of Gulf stock markets suffered varying losses. Analysts believed that the robust oil prices and the huge public spending of the oil-rich states in the Gulf Cooperation Council(GCC) would spur regional stock markets in the medium and long terms. Saudi stocks kept their upward thrust this week, led by the petrochemical and cement sectors. The Tadawul All Share Index (TASI) of the Saudi stock exchange gained 0.56 percent on a weekly basis, closing at 6,723.65 points. "I think the stable demand for oil and petrochemicals lays down the ground for fresh gains in the coming weeks," Saudi analyst Mohmmad Anqari said. Other analysts said they expected TASI to climb towards the psychological 7,000-point level in the coming weeks in the run-up for the release of the semi-annual results early in July. Kuwaiti shares suffered this week. Kuwait's KSE all-share index fell 1.57 percent this week, to close at 6,374 points. The benchmarks of Dubai and Abu Dhabi also plunged. this week by 3.07 percent and 2.13 percent, to close respectively at 1,534 points and 2,598 points.
