MIDEAST STOCKS-Most markets in Gulf firm as financials rise, #Qatar falls | Nasdaq

MIDEAST STOCKS-Most markets in Gulf firm as financials rise, Qatar falls | Nasdaq

Most Gulf stock markets rose in early trade on Monday, supported by gains in financials, while petrochemical firm Industries Qatar dragged down Qatari stocks.

Saudi Arabia's benchmark index .TASI added 0.1%, with Al Rajhi Bank 1120.SE firming 0.2%, while its largest lender National Commercial Bank 1180.SE was up 0.5%.

Dubai's main share index .DFMGI rose 0.4%, with blue-chip developer Emaar Properties EMAR.DU rising 1.4% and Dubai Investments DINV.DU closing 2.1% higher.

In Abu Dhabi, the index .ADI edged up 0.1%, helped by a 0.2% increase in the country's largest lender First Abu Dhabi Bank FAB.AD.

The export credit agencies of the United Arab Emirates (UAE) and Israel have signed a cooperation agreement to develop economic relations between the two countries.

The annual exchange of trade between Israel and the UAE across several industries is expected to reach $4 billion per year.

In Qatar, the index .QSI lost 0.4%, weighed down by a 1.8% fall in petrochemical firm Industries Qatar IQCD.QA and a 0.9% decrease in Qatar Fuel QFLS.QA.