MIDEAST STOCKS-Most major Gulf markets rise as financials gain - Reuters

MIDEAST STOCKS-Most major Gulf markets rise as financials gain - Reuters:

Most major Gulf stock markets rose in early trade on Sunday, supported by gains in financial stocks, though Qatar bucked the regional trend to trade lower.

Saudi Arabia’s benchmark index was up 0.3%, with Al Rajhi Bank and petrochemicals maker Saudi Basic Industries up 0.5% and 0.8% respectively while retail company Savola Group advanced 1.6% on a sharp rise in second-quarter profit.

The Dubai index gained 0.6%, helped by a 1% gain for Emirates NBD Bank and a 0.7% rise for Emaar Properties.

Union Properties rose 1.8% after the real estate developer reduced its second-quarter loss to 38.6 million dirhams ($10.5 million) from 84.1 million dirhams a year earlier.