Most markets in Gulf firm as financials rise, Qatar falls
- Saudi Arabia's benchmark index added 0.1pc, with Al Rajhi Bank firming 0.2pc, while its largest lender National Commercial Bank was up 0.5pc.
Most Gulf stock markets rose in early trade on Monday, supported by gains in financials, while petrochemical firm Industries Qatar dragged down Qatari stocks.
Saudi Arabia's benchmark index added 0.1pc, with Al Rajhi Bank firming 0.2pc, while its largest lender National Commercial Bank was up 0.5pc.
Dubai's main share index rose 0.4pc, with blue-chip developer Emaar Properties rising 1.4pc and Dubai Investments closing 2.1pc higher.
In Abu Dhabi, the index edged up 0.1pc, helped by a 0.2pc increase in the country's largest lender First Abu Dhabi Bank.
The export credit agencies of the United Arab Emirates (UAE) and Israel have signed a cooperation agreement to develop economic relations between the two countries.
The annual exchange of trade between Israel and the UAE across several industries is expected to reach $4 billion per year.
In Qatar, the index lost 0.4pc, weighed down by a 1.8pc fall in petrochemical firm Industries Qatar and a 0.9pc decrease in Qatar Fuel.
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