Most major stock markets in the Gulf rose in early trade on Tuesday, helped by positive earnings, while investors watched for further signs that the U.S. Federal Reserve might start to cut interest rates as soon as September.
Dubai's main share index (.DFMGI), opens new tab gained 0.4%, with blue-chip developer Emaar Properties (EMAR.DU), opens new tab rising 0.8%, while Emirates Integrated Telecommunications (DU.DU), opens new tab advanced 1.5%, following a sharp rise in second-quarter earnings.
In Abu Dhabi, the index (.FTFDGI), opens new tab added 0.1%.
The United Arab Emirates hopes to reactivate trade talks with the European Union by the end of the year, the UAE trade minister said on Monday, and is optimistic the talks would be bilateral.
Saudi Arabia's benchmark index (.TASI), opens new tab dropped 0.4%, with aluminium products manufacturer Al Taiseer Group (4143.SE), opens new tab losing 0.9% and the country's biggest lender Saudi National Bank (1180.SE), opens new tab was down 1.2%.
Elsewhere, oil giant Saudi Aramco (2222.SE), opens new tab eased 0.5%.
Crude prices - which hit a one-month low on Monday - steadied, as investors remained cautious amid expectations of plentiful supplies and weak demand, while brushing off the U.S. presidential campaign upheaval.
The kingdom's economic growth will likely be one of the slowest among the Gulf Cooperation Council countries this year, according to a Reuters poll of economists who lowered growth forecasts from three months ago due to extended oil output cuts.
Among other losers, telecoms firm Etihad Etisalat Co (7020.SE), opens new tab lost 0.6%, despite reporting a rise in quarterly net profit.
In Qatar, the index (.QSI), opens new tab added 0.1%, helped by a 0.4% rise in the Gulf's biggest lender Qatar National Bank (QNBK.QA), opens new tab.
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