Major stock markets in the Gulf were mixed in early trade on Thursday, with the Dubai index falling the most after the United Arab Emirates said it intercepted three drones.
The UAE said it intercepted three drones that entered its airspace over unpopulated areas early on Wednesday in the fourth such attack on the Gulf commercial and tourism hub in the past few weeks.
Dubai's main share index fell 0.8%, with blue-chip developer Emaar Properties losing more than 1%, while sharia-compliant lender Dubai Islamic Bank.
Most stock markets end higher; Dubai extends losses
In Abu Dhabi, the index lost 0.3%, hit by a 0.9% fall in telecoms giant Etisalat.
The first three assaults, including a missile attack on Monday during a visit by Israel's president, were launched by Yemen's Iran-aligned Houthis in an escalation with a military coalition led by Saudi Arabia and which includes the UAE.
Saudi Arabia's benchmark index gained 0.2%, hovering near a 15-year high, with Al Rajhi Bank rising 0.3%, while Saudi Telecom Company (STC) added 0.7%.
STC said on Wednesday it would transfer its data centres, international submarine cables and other assets to a new wholly-owned company, a day after news it would invest $1 billion in those assets.
OPEC+ agreed on Wednesday to stick to moderate rises in its oil output with the group already struggling to meet existing targets and wary of responding to calls on its strained capacity for more crude from top consumers to cap surging prices.
However, crude prices eased following weak US payrolls data and some profit taking, but remained underpinned by tight supply as OPEC+ producers stuck to planned moderate output increases.
The Qatari index rose 0.3%, led by a 2.2% gain in Qatar Islamic Bank.
Among other gainers, Vodafone Qatar climbed 1.1% after reporting an annual profit of 327 million riyals ($89.64 million), a 76.9% surge compared to year ago profit.
Comments
Comments are closed for this article.