MIDEAST STOCKS-Most major Gulf markets gain; Emirates NBD drags Dubai - Reuters:
Most major Gulf stock markets traded in positive territory early on Wednesday, supported by their respective financial shares, but Dubai’s top lender weighed on the index.
Saudi Arabia’s benchmark index added 0.2%, with Saudi Telecom Company rising 0.2% and Al Rajhi Bank gaining 0.2%.
Saudi King Salman held a cabinet meeting via video call from hospital in the capital Riyadh on Tuesday, a day after the 84-year-old monarch was admitted with what state media said was inflammation of the gall bladder.
Dubai’s main share index lost 0.5%, weighed down by a 2% slide in its largest lender Emirates NBD, which had gained nearly 6% on Tuesday after receiving regulatory nod to increase its foreign ownership limit to 40% from 20% earlier.
Elsewhere, blue-chip developer Emaar Properties eased 0.7%.
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