Mideast Stocks: Dubai leads gains in Gulf as financial shares rise

Mideast Stocks: Dubai leads gains in Gulf as financial shares rise

Most stock markets in the Gulf ended higher on Wednesday, with Dubai leading the gains on back of Emirates NBD Bank.Saudi Arabia's benchmark index edged up 0.2%, with Saudi Kayan Petrochemical Company rising 6.8% and Saudi Arabian Mining Company was up 2.6%.The index's gains, however, were capped by losses at oil behemoth Saudi Aramco, which declined 0.8%.Rosneft and Saudi Aramco are unlikely to bid in the privatisation of Indian refiner Bharat Petroleum Corp , Reuters reported on Wednesday, citing sources familiar with the matter, as low oil prices and weak demand curb their investment plans. Dubai's main share index climbed 0.9%, with Emirates NBD Bank leaping 3.4% logistic firm Aramex.The Dubai Financial Market said on Tuesday it plans to launch an equity derivatives platform as part of its diversification strategy. The contracts