MIDEAST STOCKS-Gulf markets little changed in early trade | Nasdaq

MIDEAST STOCKS-Gulf markets little changed in early trade | Nasdaq

Major Gulf stock markets were little changed early on Thursday, with the Dubai index slipping slightly on declines among Industrial and financial stocks.

Saudi Arabia's benchmark index .TASI rose 0.1%, with Saudi Arabian Mining Company 1211.SE gaining 2.6% and petrochemical firm Saudi Basic Industries 2010.SE increasing 0.6%.

Saudi Arabia's crude oil exports rose for a sixth straight month to an eight-month peak in December 2020, official data showed on Wednesday.

The world's largest oil exporter's total crude and oil products exports rose month-on-month to 7.71 million barrels per day, the Joint Organisations Data Initiative said on its website.

The Saudi index's gains, however, were capped by losses at financial shares including Al Rajhi Bank 1120.SE, which was down 0.5%.

In Dubai, the main share index .DFMGI eased 0.2%, hit by a 2.6% fall in the diversified Gulf-based investment group Dubai Investments DINV.DU.

Separately, the United Arab Emirates civil aviation authority has authorised Boeing 737 MAX BA.N planes to resume flying, state news agency WAM said on Wednesday.

The plane was grounded globally in March 2019 after two fatal crashes in five months killed 346 people. Emirati carrier flydubai is a major buyer of the jet.

Elsewhere, Dubai's largest lender Emirates NBD ENBD.DU retreated 1.3%.

The Abu Dhabi index .ADI edged up 0.1%, helped by 0.4% gain in telecoms giant Etisalat ETISALAT.AD.

In Qatar, the index .QSI added 0.2%, with Commercial Bank COMB.QA advancing 2.3%.