MIDEAST STOCKS-Major Gulf markets little changed in early trade | Reuters

MIDEAST STOCKS-Major Gulf markets little changed in early trade | Reuters:

Major stock markets in the Gulf were calm in early trading on Monday in the absence of fresh factors, with financials helping Saudi Arabian shares.

The kingdom’s benchmark index gained 0.2%, with Riyad Bank rising 0.8% and Anaam Holding jumping 7.7%.

Last week, Anaam Holding signed a non-binding memorandum of understanding with Ghadeer Real Estate Company to fully acquire its share capital.

Dubai’s main share index edged up 0.1%, helped by Emirates Integrated Telecommunications 1.9% rise and logistic firm Aramex’s 1.4% gain.

Dubai’s $2 billion dual-tranche bond sale on Wednesday was backed mostly by funds in the Middle East, Europe and the United Kingdom, a document showed.

It was Dubai’s first foray into the public debt markets since 2014, as the Middle Eastern tourism and commerce hub seeks to bolster finances hurt by the COVID-19 pandemic.

The Abu Dhabi index slipped 0.1%, with the country’s largest lender First Abu Dhabi Bank losing 0.3%. 


In Qatar, the index added 0.1%. Qatar Islamic Bank rose 0.3%, while Commercial Bank was up 0.5%.