Stock markets in the Gulf ended mixed on Tuesday with China's efforts to shore up its battered markets supporting sentiment, while volatile energy markets weighed.
Beijing introduced a slew of measures over the weekend to bolster the market, such as halving stock-trading stamp duty, loosening margin loan rules and putting the brakes on new listings.
This has offered some respite to equity markets, rattled this month by fresh strain in China's property market and renewed selling in the U.S. Treasury market.
In Abu Dhabi, the index (.FTFADGI) added 0.1%, helped by a 0.1% increase in conglomerate International Holding (IHC.AD).
Insurer Centene (CNC.N) said on Monday it will sell British hospital operator Circle Health Group to United Arab Emirates-based PureHealth for about $1.2 billion, including debt, as the U.S. health insurer refocuses on its core business.
PureHealth is majority-owned by Abu Dhabi investment fund ADQ, with International Holding Company also owning a stake. Both ADQ and IHC are chaired by Sheikh Tahnoun bin Zayed Al Nahyan, the national security adviser and brother of UAE ruler Sheikh Mohammed bin Zayed.
The Qatari benchmark (.QSI) gained 0.3%, with Qatar Islamic Bank (QISB.QA) advancing 0.9% and petrochemicals maker Industries Qatar (IQCD.QA) finishing 0.6% higher.
Saudi Arabia's benchmark index (.TASI) gave up early gains to close 0.2% lower, weighed down by a 1.3% fall in oil giant Saudi Aramco (2222.SE).
Oil prices - a key catalyst for the Gulf's financial markets - crept up as supply concerns from a hurricane hurtling towards the U.S. Gulf Coast limited bearish sentiment about the possibility of another interest rate hike by the Federal Reserve undercutting demand.
Dubai's main share index (.DFMGI) retreated 0.4%.
Outside the Gulf, Egypt's blue-chip index (.EGX30) gained 0.2%, with Madinet Masr (MASR.CA) rising 0.6%.
Egypt hopes its imminent inclusion in the BRICS bloc of developing nations will help ease its shortage of foreign currency and attract new investment, but analysts say it may take time before any benefits appear.
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