Mideast Stocks - Major Gulf markets gain in early trade | ZAWYA MENA Edition

Mideast Stocks - Major Gulf markets gain in early trade | ZAWYA MENA Edition:

Major stock markets in the Gulf rose in early trade on Sunday, with financial shares bolstering the Saudi index.

The kingdom's benchmark index gained 0.3%, with Samba Financial Group rising 0.9%, while Al Rajhi Bank was up 0.2%.

Elsewhere, Najran Cement jumped 6.7%, extending gains from the previous session when the cement producer proposed first-half dividend of 0.75 riyal per share. 

Dubai's main share index added 0.3%, supported by a 2% rise in Emaar Malls and a 0.4% increase in blue-chip developer Emaar Properties .

Arabtec Holding advanced 3.2%. The loss-making contractor has hired advisory firm AlixPartners to help it restructure the company's debt, Reuters reported on Thursday, citing two sources familiar with the matter. 

The Abu Dhabi index was up 0.4%, led by a 0.7% gain in the country's largest lender, First Abu Dhabi Bank.


In Qatar, the index firmed 0.2%. Qatar Insurance leapt 3.6%, while Qatar Navigation was up 1.3%

The shipping and logistics group said on Sunday it had entered into a formal agreement to cooperate with American oilfield services firm Schlumberger.