Stock markets in the Gulf were mixed in early trading on Monday amid steady oil prices, while investors awaited further cues on the U.S. Federal Reserve's interest rate outlook.
Oil prices, a catalyst for the Gulf's financial markets, were steady as markets awaited an OPEC+ meeting on June 2, with Brent trading at $82.32 a barrel at 0740 GMT.
Dubai's benchmark stock index (.DFMGI), opens new tab rose 0.4%, helped by gains in the consumer staples, finance and industry sectors. Commercial Bank of Dubai (CBD.DU), opens new tab climbed 8.8% and Parkin Company (PARKIN.DU), opens new tab added 1.1%.
Saudi Arabia's benchmark index (.TASI), opens new tab was up 0.3%, supported by gains in most sectors, with Saudi National Bank (1180.SE), opens new tab, the kingdom's largest lender, rising 1.4% and Dr Sulaiman Al Habib Medical (4013.SE), opens new tab adding 1.1%.
In Abu Dhabi, the benchmark stock index (.FTFADGI), opens new tab was little changed, with conglomerate Alpha Dhabi Holding (ALPHADHABI.AD), opens new tab and crypto mining firm Phoenix Group (PHX.AD), opens new tab gaining 0.7% and 2.3% respectively, while Abu Dhabi Commercial Bank (ADCB.AD), opens new tab, the UAE's third-biggest lender, dropped 2.3%.
The Qatari benchmark index (.QSI), opens new tab fell 0.5%, pressured by a 1.6% drop in Qatar National Bank (QNBK.QA), opens new tab, the region's largest lender, and a 1.1% fall in United Development Co (UDCD.QA), opens new tab.
Friday's U.S. personal consumption expenditures reading will be crucial for investors, giving them an idea of whether the Federal Reserve will be in a position to lower borrowing costs.
Most Gulf currencies are pegged to the dollar, and any U.S. monetary policy change is usually followed by Saudi Arabia, the United Arab Emirates and Qatar.
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