MIDEAST STOCKS-Abu Dhabi outperforms major Gulf markets | Nasdaq
The Abu Dhabi stock market advanced on Tuesday as aquaculture company International Holding continued its gains, while the Saudi index was bolstered by Advanced Petrochemical 2330.SE.
In Abu Dhabi, the index .ADI rose 1.3%, on track to extend gains for an eight consecutive session, boosted by a 13.6% rise in International Holding IHC.AD.
On Sunday, the company said it planned to divest all its shares in defence supplier Trust International Holding for 350 million dirhams ($95.30 million).
Saudi Arabia's benchmark index .TASI edged up 0.3%, with Advanced Petrochemical 2330.SE jumping more than 5%, after it reported strong quarterly earnings.
Saudi Arabia's Yanbu Cement 3060.SE, however, lost 0.8% after saying that it was postponing a recommendation to decrease its capital to support Saudi government plans requiring the private sector to invest in the local economy.
The capital decrease would have happened by cancelling 36.5% of its shares and compensating shareholders.
Meanwhile, the kingdom's non-oil private sector grew for the seventh straight month in March, albeit at a slower pace, with output and new orders expanding more moderately than a month earlier, a survey showed on Monday.
In Dubai, the benchmark index .ADI eased 0.3%, hit by a 1.1% fall in sharia-compliant lender Dubai Islamic Bank DISB.DU.
The Qatari index .QSI was flat in early trading.
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