Saudi Arabia's benchmark index (.TASI) advanced 0.9%, with Al Rajhi Bank (1120.SE) and Saudi National Bank (1180.SE) gaining 1.4% and 3% respectively.
Saudi Arabia sold $3.25 billion in dual-tranche bonds on Tuesday comprising a sukuk tranche and a conventional portion in its third international bond sale of the year, a term sheet viewed by Reuters showed. read more
Moody's on Friday upgraded Saudi Arabia's outlook to "stable" from "negative", saying it was likely to reverse most of its 2020 debt increase while preserving fiscal buffers.
Egypt's blue-chip index (.EGX30) fell 0.9%, as most of the stocks were in negative territory including top lender Commercial International Bank (COMI.CA), which retreated 1.4%.
In Abu Dhabi, the index (.ADI) gained 0.4%, with record high within sight, driven by a 1.5% gain in telecoms firm Etisalat (ETISALAT.AD).
Among other gainers, ADNOC Drilling (ADNOCDRILL.AD) finished 2.5% higher. The unit of Abu Dhabi National Oil Company (ADNOC), the largest national drilling company in the Middle East by rig fleet size, posted a rise of almost 50% in third-quarter profit on Wednesday, driven by new rigs and reactivation of others this year, in addition to an increase in oilfield services. read more
Dubai's main share index (.DFMGI) dropped 0.4%, hit by a 1.8% fall in Emirates NBD Bank (ENBD.DU) and a 1.6% decline in blue-chip developer Emaar Properties (EMAR.DU), ahead of earnings announcement.
Union Properties (UPRO.DU) plunged 9.9%, after media reports, including by Bloomberg, said its chairman Khalifa Al Hammadi had been detained amid an investigation. A spokesman for Union Properties declined to comment in the Bloomberg report.
The United Arab Emirates attorney general announced the investigation in October into allegations of financial violations by the chairman and other officials of Union Properties, state news agency WAM had reported. read more
The Dubai stock market stalled after the large increases that followed the government's announcement regarding the introduction of 10 state-owned companies to the DFM as investors become cautious in the face of possible price corrections, said Farah Mourad, senior market analyst of XTB MENA.
The Qatari index (.QSI) added 0.2%, with petrochemical maker Industries Qatar (IQCD.QA) rising 1.1%.
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