#Saudi outperforms in weak Gulf, while property shares weigh on #Dubai | Reuters

Saudi outperforms in weak Gulf, while property shares weigh on Dubai | Reuters:

Most major Middle Eastern markets ended lower on Monday with losses in real estate shares weighing on the Dubai index, while the Saudi market bucked the trend to close higher.

The benchmark index .TASI in Saudi Arabia rose 1%, with oil giant Saudi Aramco 2222.SE gaining 2.1% and Al Rajhi Bank 1120.SE rising 1.1%.

The kingdom shipped 6.1 million barrels per day of crude oil in September, slightly above August levels, and kept output steady at 8.974 million bpd last month, Reuters reported on Monday, citing an industry source.

Dubai's main share index .DFMGI declined 0.9%, dragged down by a 1.8% fall in blue-chip developer Emaar Properties EMAR.DU and a 1% drop in Emirates NBD Bank ENBD.DU.

The Abu Dhabi index .ADI slipped 0.1%, hit by a 0.2% loss in the country's largest lender First Abu Dhabi Bank FAB.AD and a 1% fall in Aldar Properties ALDAR.AD.

The United Arab Emirates’ non-oil private sector swung back to growth in September, a survey showed on Monday, but firms continued to shed jobs amid cash flow issues and concerns over renewed restrictions to contain coronavirus.
Last week the UAE recorded its highest daily number of new infections with 1,158 cases, after a surge in infections over the past two months that authorities have blamed on poor adherence to social distancing measures.
In Qatar the index .QSI ended flat, with Qatar Islamic Bank QISB.QA losing 1%.