MIDEAST STOCKS Major Gulf bourses mixed in early trade | Reuters

MIDEAST STOCKS Major Gulf bourses mixed in early trade | Reuters

Major stock markets in the Gulf were mixed in early trade on Monday in the absence of fresh factors to trade on, with the Qatari index on track to end three sessions of losses.

Saudi Arabia's benchmark index (.TASI) rose 0.1%, helped by a 0.9% gain in Saudi Telecom Company (7010.SE) and a 0.2% increase in Al Rajhi Bank (1120.SE).

Direct foreign investment into Saudi Arabia rose by about 13% in the first quarter of this year, Saudi Investment Minister Khalid al-Falih said in an interview with Al Arabiya television. read more

Oil prices, a key catalyst for the Gulf's financial markets, retreated as a powerful hurricane slammed into the U.S. Gulf coast, forcing shutdowns and evacuations of hundreds of offshore oil platforms.

Brent crude rose more than 11% last week in anticipation of disruptions to oil production from Hurricane Ida. The Saudi energy index (.TENI) however traded flat.

In Abu Dhabi, the index (.ADI) eased 0.1%, hit by a 0.7% fall in Alpha Dhabi Holding (ALPHADHABI.AD).

The Abu Dhabi Securities Exchange said on Saturday it would halve its trading commissions to 0.025% from 0.05% from Sept. 1, its second commission cut this year and the third in three years. read more

Dubai's main share index (.DFMGI) fell 0.2%, weighed down by a 0.7% drop in Emirates NBD Bank (ENBD.DU) and a 0.5% decrease in blue-chip developer Emaar Properties (EMAR.DU).

The Qatari index (.QSI) added 0.2%, with sharia-compliant lender Masraf Al Rayan (MARK.QA) gaining 0.5% and petrochemical maker Industries Qatar (IQCD.QA) 0.3%.