Major stock markets in the Gulf ended mixed on Monday, with the Saudi index extending losses from the previous session.
Saudi Arabia's benchmark index (.TASI) dropped 0.5%, with Dr Sulaiman Al-Habib Medical Services (4013.SE) declining 1.1%, while Al Rajhi Bank (1120.SE) was down 0.2%.
The Saudi stock market fell as traders took profits after the main index reached a new interim high, said Wael Makarem, senior market strategist at Exness.
"The market fell despite the strong oil prices and the trading start of Acwa Power, two factors that should help the bourse rebound."
However, shares in Saudi Arabian renewable energy utility ACWA Power International (2082.SE) jumped 30% on its market debut after a $1.2 billion IPO, the kingdom's biggest since Saudi Aramco's (2222.SE) massive public offering in 2019.
In Abu Dhabi, the index (.ADI) gained 0.7%, buoyed by a 1.1%rise in the largest lender First Abu Dhabi Bank (FAB.AD) and a 3.5% leap in Alpha Dhabi Holding (ALPHADHABI.AD).
Dubai's main share index (.DFMGI) eased 0.1%, hit by a 0.6% fall in sharia-compliant lender Dubai Islamic Bank (DISB.DU) and a 0.5% decrease in blue-chip developer Emaar Properties (EMAR.DU).
Emaar Properties said on Monday shareholders had approved an all-share merger with Emaar Malls (EMAA.DU).
The Qatari index (.QSI) finished 0.1% higher, with Qatar National Bank (QNB) (QNBK.QA) gaining 0.4%.
QNB, the Gulf's biggest lender, posted an 8% increase in nine-month net profit to 10.3 billion Qatari riyals ($2.81 billion), citing loan growth. read more
Separately, Qatar changed the name of its state-owned oil and gas firm to Qatar Energy from Qatar Petroleum, to reflect a broader strategy. However, it said it had no plans to sell assets to raise funds as other Gulf state producers have. read more
Outside the Gulf, Egypt's blue-chip index (.EGX30) climbed 0.5%, with top lender Commercial International Bank (COMI.CA) rising 1.6%.
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