MIDEAST STOCKS- #Qatar index leads most of Gulf lower; Egypt rises | Nasdaq

MIDEAST STOCKS-Qatar index leads most of Gulf lower; Egypt rises | Nasdaq

Major stock markets in the Gulf ended lower on Monday, with Qatar falling the most, while markets in Egypt closed higher.

In Qatar, the index .QSI slid 1.8%, its biggest intraday fall since April, weighed down by a 3.2% drop in petrochemical maker Industries Qatar IQCD.QA.

Saudi Arabia's benchmark index .TASI eased 0.1%, with Samba Financial Group 1090.SE falling 2.3%.

Meanwhile, the kingdom and Russia have differences over a potential deal among OPEC+ oil producers that could ease curbs on supply starting in April, a source told RIA news agency on Monday.

Dubai's main share index .DFMGI dropped 1%, dragged by a 1.3% fall in its largest lender Emirates NBD Bank ENBD.DU and a 1.6% decline in Emaar Properties EMAR.DU.

A second wave of coronavirus infections jolted a tourism boom in Dubai that provided salve to its battered economy.

Daily infections tripled over the past month to hit a record 3,966 on Jan. 28 in the United Arab Emirates, which is now battling its biggest outbreak since the pandemic begun.

In Abu Dhabi, the index .ADI edged up 0.1%, helped by a 0.7% gain in the country's largest lender First Abu Dhabi Bank FAB.AD.