MIDEAST STOCKS-Major Gulf markets steady; #Qatar extends losses | Nasdaq

MIDEAST STOCKS-Major Gulf markets steady; Qatar extends losses | Nasdaq

Most major Gulf markets were little changed in early trade on Wednesday, with Qatar extending losses for a third straight session.

Saudi Arabia's benchmark index .TASI traded flat, with oil behemoth Saudi Aramco 2222.SE dropping 0.4% and Al Rajhi Bank 1120.SE losing 0.3%.

Dubai's main share index .DFMGI added 0.1%, with its largest lender Emirates NBD Bank ENBD.DU rising 0.5%, while blue-chip developer Emaar Properties EMAR.DU was up 0.6%.

Dubai will start inoculating people with the COVID-19 vaccine produced by Pfizer PFE.N and BioNTech for free from Wednesday, the emirate's government said, joining Saudi Arabia which last week became the first Arab country to begin using this vaccine.

In Abu Dhabi, the index .ADI gained 0.5%, led by a 0.9% increase in the country's largest lender First Abu Dhabi Bank FAB.AD, while Aldar Properties ALDAR.AD was up 0.9%.

Aldar has signed an agreement to divest two of its district cooling assets on Abu Dhabi's Saadiyat Island to National Central Cooling Company (Tabreed) TABR.DU for 963 million dirhams ($262.20 million).

Back in Dubai, Tabreed firmed 0.4%.

The Qatari index .QSI lost 0.4%, extending losses for a third session, weighed down by a 2% fall in petrochemical maker Industries Qatar IQCD.