MIDEAST STOCKS-Most Gulf markets gains as financial shares rise - Reuters

MIDEAST STOCKS-Most Gulf markets gains as financial shares rise - Reuters:

Most stock markets in the Gulf ended
higher on Monday, largely led by gains in financial shares.

Saudi Arabia's benchmark index, however, bucked the
trend, ending flat, with petrochemicals and some financial
shares moving sideways. Al Rajhi Bank though added
0.5% and Riyad Bank gained 1.7%.

Shares in the United Arab Emirates - which signed an
agreement with Israel on Thursday to normalize diplomatic
relations - extended gains from the previous session.

Dubai's main share index rose 1%, boosted by a 4.5%
jump in Emirates NBD Bank (ENBD), extending gains for
a fifth session.

On Thursday, the lender said it was in preliminary
discussions with Lebanon's Blom Bank about acquiring a
stake in Blom Bank Egypt.

Arabtec Holding, by contrast, dropped 4.9%.

The United Arab Emirates' largest listed contractor swung to
a loss in the first half of the year, citing tight liquidity and
limited new projects, and said it was seeking an advisor for
debt restructuring.