MIDEAST STOCKS Major Gulf indexes make mixed start, with #Qatar gaining | Reuters

MIDEAST STOCKS Major Gulf indexes make mixed start, with Qatar gaining | Reuters

Major Gulf share markets were mixed on Monday, with the Qatari index boosted by Commercial Bank (COMB.QA), while Saudi Arabia's benchmark index (.TASI) slipped 0.4%.

In the Saudi market, Al Rajhi Bank (1120.SE) fell 0.5%, while Saudi National Bank (1180.SE), the kingdom's largest lender, retreated 1.7% and Arriyadh Development (4150.SE) dropped 2.4%, as the stock went ex-dividend.

However, Yanbu National Petrochemicals Company (2290.SE) climbed by more than 2%, after it reported a sharp surge in its quarterly profit.

In Dubai, the main share index (.DFMGI) fell 0.5%, hit by a 1.5% fall in Emaar Properties (EMAR.DU), Dubai's largest listed real estate developer which will go ex-dividend on Tuesday, and a 0.9% slip in Emirates NBD Bank (ENBD.DU).

The Abu Dhabi index (.ADI) gained 0.5%, with aquaculture firm International Holding (IHC.AD) advancing 4.9%.

International Holding has gone through rapid expansion across its major business sectors, resulting in a sharp growth in its financials, positioning it for long-term growth.

In Qatar, the benchmark (.QSI) rebounded 1%, as most of the stocks on the index were in positive territory including Commercial Bank, which rose 4.9%.

The Qatari cabinet last week approved a bill that will allow non-Qatari investors to own up to 100% of the capital of companies listed on the Qatar stock exchange.

It also decided to keep central bank liquidity support for local banks based on need, as the country faces a second wave of the coronavirus pandemic.