Most major Gulf markets firm up a day after retreat | Reuters

Most major Gulf markets firm up a day after retreat | Reuters

Most major Gulf markets ended higher on Monday, a day after a retreat in the region, with the Saudi index climbing following three sessions of losses, although Qatar traded flat.

Saudi Arabia's benchmark index .TASI advanced 2%, boosted by a 2.6% jump in Al Rajhi Bank 1120.SE and a 1.8% increase in oil giant Saudi Aramco 2222.SE, ahead of its earnings announcement on Tuesday.

Elsewhere, Al Etihad Cooperative Insurance 8170.SE climbed 10% to become the top gainer on the index, after it reported a sharp rise in third-quarter net profit.

Dubai's main share index .DFMGI closed up 0.6%, driven by a 1.3% rise in its biggest lender Emirates NBD Bank ENBD.DU and a 6.7% jump in DAMAC Properties DAMAC.DU.

The Abu Dhabi index .ADI edged up 0.1%, helped by a 1.1% gain in Aldar Properties ALDAR.AD.

The cabinet of the United Arab Emirates plans to spend 26.04 billion dirhams ($7.1 billion) on social projects as part of its 2021 budget, the UAE government tweeted on Monday.

The budget includes 21.3 billion dirhams in government affairs and 3.93 billion dirhams in federal projects, it said.

In Qatar, the index .QSI traded flat, with Commercial Bank COMB.QA falling 2.3%.