#Qatar leads most Gulf markets higher; #Saudi bourse flat | Reuters

Qatar leads most Gulf markets higher; Saudi bourse flat | Reuters

Most stock markets in the Gulf ended higher on Thursday, with Qatar leading on broad-based gains, while the Saudi index bucked the trend to close flat.

The Qatari index .QSI advanced 1.7%, as most of the stocks were in positive territory including the Gulf's largest lender, Qatar National Bank QNBK.QA.

Dubai's main share index .DFMGI rose 0.3%, driven by a 2.1% rise in its largest lender, Emirates NBD Bank ENBD.DU, and a 1.3% increase in logistic firm Aramex ARMX.DU, despite reporting a fall in third-quarter profit.

However, Aramex posted a revenue of 1.51 billion dirhams ($411 million) in the quarter ended Sept. 30, down from 1.27 billion dirhams year ago.

In Abu Dhabi, the index .ADI closed up 0.6%, with top lender First Abu Dhabi Bank FAB.AD rising 1.2%.

The benchmark index .TASI in Saudi Arabia finished flat, a day after it climbed over 1%.

In the previous session, Saudi Arabian shares advanced over 1% after President Donald Trump falsely claimed victory in a tight U.S. election.

Outside the Gulf, Egypt's blue-chip index .EGX30 gained 0.7%, with Commercial International Bank COMI.CA adding 1.2%.

On Wednesday, the Arab state’s cabinet approved a new law to issue sovereign sukuk and will send it to parliament for a vote, finance minister Mohamed Maait said.

Once parliament and the president approve the law, the country will issue its first sovereign sukuk, the ministry said.