Dubai's stock market closed higher on Monday after blue-chip developer Emaar Properties reported strong property sales, while the Egypt index was weighed down by a drop in its biggest lender Commercial International Bank.
The main share index in Dubai (.DFMGI) rose 0.7%, boosted by a 1.5% rise in Emaar Properties (EMAR.DU) after the company posted a more than three-fold jump in property sales for the first five months of 2021.
In Abu Dhabi, the index (.ADI) was up 0.3%, as telecom operator Emirates Telecommunications Group (ETISALAT.AD) rose 0.5% and market heavyweight First Abu Dhabi Bank (FAB.AD) gained 0.2%.
Saudi Arabia's benchmark index (.TASI) closed 0.3% higher, supported by a 1.7% rise in Dr. Sulaiman Al-Habib Medical Services Group (4013.SE).
Saudi Aramco (2222.SE) was up 0.1% after news that the oil giant has hired banks to arrange its inaugural issuance of U.S. dollar-denominated sukuk, as it seeks cash to fulfil large commitments to its major shareholder, the Saudi government. read more
Qatar's index (.QSI) lost 0.3% to record its third straight session of losses, as the Gulf's largest lender, Qatar National Bank (QNBK.QA), dropped 0.6% and petrochemical maker Industries Qatar (IQCD.QA) ended 0.6% lower.
QNB on Friday signed an agreement with Moscow-based asset manager VTB Capital Investments to launch funds to attract foreign capital into Russia and Qatar and build offerings for international investors. read more
Outside the Gulf, Egypt's blue-chip index (.EGX30) closed 0.2% lower as the country's largest lender, Commercial International Bank (COMI.CA), declined 3% and Fawry For Banking Technology and Electronic Payment (FWRY.CA) fell 3.5%.
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