Mideast Stocks: Most major Gulf markets gain; Qatar eases

SectorFinancial Markets

Most major stock markets rose in early trade on Monday, with Abu Dhabi index leading the gains, although Qatar traded lower.Saudi Arabia's benchmark index rose 0.2%, with Al Rajhi Bank gaining 0.2%, while Saudi Arabian Mining Company advanced 1.2%.Saudi Arabia increased the price of its Arab light crude for the Asian market by $0.4/barrel in May, compared to April, and lowered those for the U.S. and European markets by $0.1/barrel and $0.2/barrel respectively, according to a statement from oil producer Saudi Aramco. Aramco was down 0.4%.Dubai's main share index gained 0.5%, led by a 1.3% rise in sharia-compliant lender Dubai Islamic Bank and 2.3% increase in logistic firm Aramex.The United Arab Emirates will invest $3 billion in Iraq, it said in a joint statement at the end of Iraqi Prime Minister Mustafa al-Kadhimi's visit to UAE, state news agency WAM reported. In Ab Dhabi, the index rose 0.7%, boosted by a 6.9% jump in International Holding.The firm has gone through...read more...