Mideast Stocks: Most markets in Gulf firm as financials rise, Qatar falls

Mideast Stocks: Most markets in Gulf firm as financials rise, Qatar falls

Most Gulf stock markets rose in early trade on Monday, supported by gains in financials, while petrochemical firm Industries Qatar dragged down Qatari stocks.Saudi Arabia's benchmark index added 0.1%, with Al Rajhi Bank firming 0.2%, while its largest lender National Commercial Bank was up 0.5%.Dubai's main share index rose 0.4%, with blue-chip developer Emaar Properties EMAR.DU rising 1.4% and Dubai Investments closing 2.1% higher.In Abu Dhabi, the index edged up 0.1%, helped by a 0.2% increase in the country's largest lender First Abu Dhabi Bank.The export credit agencies of the United Arab Emirates (UAE) and Israel have signed a cooperation agreement to develop economic relations between the two countries. The annual exchange of trade between Israel and the UAE across several industries is expected to reach $4 billion per year.In Qatar, the index lost 0.4%, weighed down by a 1.8% fall in petrochemical firm Industries Qatar and a 0.9% decrease in Qatar Fuel.(Reporting by Ateeq Shariff in Bengaluru; Editing by Angus MacSwan) (([email protected]; +918061822788;))