MIDEAST STOCKS Most major Gulf markets gain; #Qatar eases | Reuters

MIDEAST STOCKS Most major Gulf markets gain; Qatar eases | Reuters

Major stock markets in the Gulf rose in early trade on Monday, with Dubai on course to extend gains for a sixth session, although Qatar bucked the trend to trade lower.

In Abu Dhabi, the index (.ADI) advanced 1.2%, buoyed by a 2.8% rise in the country's biggest lender First Abu Dhabi Bank (FAB.AD).

Saudi Arabia's benchmark index (.TASI) edged up 0.1%, helped by a 0.3% increase in petrochemical firm Saudi Basic Industries (2010.SE).

Among others, Fawaz AbdulAziz Alhokair (4240.SE) jumped about 6% following franchise agreements with Alo Yoga and Flying Tiger Copenhagen.

However, Etihad Etisalat (7020.SE) fell 0.8%, as the telecoms firm traded ex-dividend.

Dubai's main share index (.DFMGI) added 0.1%, with its top lender Emirates NBD (ENBD.DU) advancing 0.8%, while sharia-compliant lender Dubai Islamic Bank (DISB.DU) gained 0.4%.

Emirates NBD sold $750 million in Additional Tier 1 bonds on Thursday after receiving more than $1.75 billion in orders for them, a document showed.

Elsewhere, DAMAC Properties (DAMAC.DU) advanced 2.1%.

House prices in Dubai are expected to rise for the first time in six years in 2021, supported by a swift vaccine rollout that has lifted hopes for economic recovery, a Reuters poll of property analysts showed.

In Qatar, the index (.QSI) lost 0.7%, with most of its stocks in negative territory, including Industries Qatar (IQCD.QA), which fell more than 2%.