Most major Gulf markets rise as financials gain

Most major Gulf markets rise as financials gain

Most major Gulf stock markets rose in early trade on Sunday, supported by gains in financial stocks.The Dubai index gained 0.6 per cent, helped by a 1 per cent gain for Emirates NBD Bank and a 0.7 per cent rise for Emaar Properties.Union Properties rose 1.8 per cent after the real estate developer reduced its second-quarter loss to 38.6 million dirhams ($10.5 million) from 84.1 million dirhams a year earlier.However, DXB Entertainment dropped 0.8 per cent after second-quarter losses widened to Dh258 million from Dh233 million a year earlier.The Abu Dhabi index added 0.2 per cent, helped by a 0.5 per cent rise in the country's largest lender, First Abu Dhabi Bank, and a 1.3 per cent gain