Saudi shares ended lower Monday as investors book profits ahead of second-quarter earnings. Saudi stock benchmark Tadawul All Share Index (TASI) lost 0.52 percent to close at 6,625.87 points, easing from Sunday's four-week high. Volumes slump to a week-low. Yet banks and petrochemicals are seen posting strong results to boost the Kingdom's index. "For banks, we are expecting good results," said Youssef Kassantini, a Saudi-based financial analyst. "Most of the provisions were allocated in 2009 and 2010. The political fear is not there anymore, so investors are more encouraged." However, some caution remains. "People are waiting for Saudi banks to start growing again – they are extremely liquid and well capitalised, but that begs the question why they are not growing," said Ibrahim Masood, senior investment officer at Mashreq Bank. Saudi Basic Industries Corp (SABIC) fell 0.9 percent, Al Rajhi Bank dipped 0.7 percent and Mobily eased 0.3 percent. Elsewhere, banks help lift Dubai and Abu Dhabi indices higher but investors remain cautious about second-quarter earnings. Abu Dhabi's index gained 0.3 percent to 2,715 points, with four of the largest banks by market value closing higher. Dubai Financial Market climbed 0.2 percent to 1,556 points, a near two-week high. Emirates NBD gains 3.5 percent, and Dubai Islamic Bank rose 0.5 percent.
