Dubai's main share index (.DFMGI) rose 0.5%, boosted by a 3.4% rise in blue-chip developer Emaar Properties (EMAR.DU), while its unit Emaar Malls (EMAA.DU) jumped 3.9%, following a sharp rise in quarterly earnings.
Emaar Properties, which owns close to 85% of Emaar Malls, will buy out minority shareholders of the unit and delist the business by year-end.
The index's gains, however, were capped by declines at Dubai Financial Market (DFM) (DFM.DU), which plunged 10%. That ended a six-day winning streak, during which the stock soared about 70% on Dubai's plans to launch a 2 billion dirham ($545 million) market-maker fund and initial public offerings.
Saudi Arabia's benchmark index (.TASI) dropped 0.8%, weighed down by a 1.6% fall in Al Rajhi Bank (1120.SE) and a 4% slide in Saudi Electricity Co (5110.SE).
Investors remain cautious ahead of the U.S. inflation and job market releases. The market could however recover as economic growth remains strong and oil prices resilient, said Farah Mourad, senior market analyst of XTB MENA.
Meanwhile, the Saudi economy grew 6.8% in the third quarter from a year ago, its fastest expansion since 2012, as the world's top oil exporter benefits from rebounding global energy demand. read more
In Abu Dhabi, the index (.ADI) added 0.2%, with the country's largest lender First Abu Dhabi Bank (FAB.AD) rising 0.3%.
The Qatari index (.QSI) edged 0.2% higher, supported by a 1.2% rise in Commercial Bank (COMB.QA) and a 1% increase in Qatar Fuel Co (QFLS.QA).
Qatar's government budget recorded a surplus of 0.9 billion riyals ($246.87 million) in the third quarter, boosting the nine-month surplus in 2021 to 4.9 billion riyals, as higher energy prices increased the Gulf nation's revenue. read more
Qatar is one of the world's top liquefied natural gas exporters.
Outside the Gulf, Egypt's blue-chip index (.EGX30) climbed 0.8%, following price corrections in the previous few sessions, with Commercial International Bank (COMI.CA) rising 2.7%.
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