Most Gulf markets little changed in quiet early trade
- Saudi Arabian benchmark index rose 0.2pc, with petrochemical maker Saudi Basic Industries Corp rising 0.7pc and oil giant Saudi Aramco 0.3pc.
Most Gulf stock markets were little changed in thin trading early on Monday, with banking shares hurting Dubai while petrochemical stocks supported Saudi Arabia.
Saudi Arabian benchmark index rose 0.2pc, with petrochemical maker Saudi Basic Industries Corp rising 0.7pc and oil giant Saudi Aramco 0.3pc.
But, shares of Saudi Industrial Investment Group and National Petrochemical Company retreated 1.9pc and 2pc, respectively.
On Sunday, the shares had surged on news the two were in merger talks.
Dubai's main share index dropped 0.4pc, weighed down by a 0.5pc fall in Emirates NBD Bank and a 0.7pc decrease in blue-chip developer Emaar Properties.
The Abu Dhabi index slipped 0.2pc, hurt by a 0.2pc ease in the country's largest lender First Abu Dhabi Bank.
In Qatar, the index added 0.3pc, with United Development Company jumping 7.5pc. Commercial Bank edged up 0.1pc.
The lender closed a dual-tranche $227.5 million syndicated term loan facility.
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