Mideast Stocks: Most major Gulf markets gain; Qatar eases

SourceZawya
SectorFinancial Markets
CountryGulf

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...