Mideast Stocks: Most major markets end higher on oil price gains; Dubai dips

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09/06/2021 14:17

* Saudi gains on financials, consumers
    * Abu Dhabi extends gains on ADNH, ADCB boost
    * Qatar leaps after four-day losses
    * Property stocks drag Dubai 
    * Banks lift Egypt

    June 9 (Reuters) - Most major Gulf stock markets finished
higher on Wednesday as oil prices rose, while real estate stocks
pressured Dubai to close lower. 
    Brent crude  LCOc1  futures were up 32 cents, or 0.3%, at
$72.42 a barrel at 0911 GMT, having earlier touched $72.83, the
highest since May 20, 2019. Brent rose 1% on Tuesday.
 urn:newsml:reuters.com:*:nL2N2NR05K
    Saudi Arabia's benchmark index  .TASI  was up 0.5% with Al
Rajhi Bank  1120.SE  gaining 0.8% and Savola Group rising
 2050.SE  3.6%.
    In Abu Dhabi, the index  .ADI  ended 0.6% higher as Abu
Dhabi Commercial Bank (ADCB)  ADCB.AD  jumped 3.2% and Abu Dhabi
National Hotels Company (ADNH)  ADNH.AD  surged 14.8% after Abu
Dhabi state-owned ADQ submitted an offer to combine Abu Dhabi
National Exhibitions Company (ADNEC) with ADNH.  urn:newsml:reuters.com:*:nL2N2NR0BF
    The lender ADCB rose for a second day after it received on
Tuesday an amended offer for its stake in Alexandria Medical
Services  AMES.CA , whereby the potential buyer increased the
offer price to 700 million Egyptian pounds ($44.73 million) from
650 million offered earlier.  urn:newsml:reuters.com:*:nFWN2NI0IS
    Qatar's index  .QSI , rose 0.2%, snapping four consecutive
sessions losses, with petrochemical maker Industries Qatar
 IQCD.QA  gaining 0.6% and Qatar Aluminum Manufacturing 
 QAMC.QA  increasing 4.5%.
    Pressured by its property stocks, Dubai's index  .DFMGI ,
however, eased 0.1% as Emaar Properties  EMAR.DU  and unit Emaar
Malls  EMAA.DU  dropped 1%, while Damac Properties  DAMAC.DU 
lost 1.5%.
    Outside the Gulf, Egypt's blue-chip index  .EGX30  closed
0.8% higher as the country's largest lender, Commercial
International Bank,  COMI.CA  rose 1%, and Fawry For Banking
Technology and Electronic Payment  FWRY.CA  advanced 1.2%.
        
 SAUDI ARABIA   .TASI  was up 0.5% to 10,790 points
 ABU DHABI      .ADI  rose 0.6% to 6,711 points
 DUBAI          .DFMGI  eased 0.1% to 2,832 points
 QATAR          .QSI  gained 0.2% to 10,691 points
 EGYPT          .EGX30  was up 0.8% to 10,042 points
 BAHRAIN        .BAX  was up 0.3% to 1,546 points
 OMAN           .MSI  climbed 1% 4,020 points
 KUWAIT         .BKP  edged up 0.1% to 6,848 points
 
($1 = 3.6415 Qatar riyals)

($1 = 3.6730 UAE dirham)

($1 = 3.7511 riyals)



($1 = 15.6500 Egyptian pounds)

 (Reporting by Shamsuddin Mohd in Bengaluru; Editing by Andrea
Ricci)
 ((shamsuddin.mohd@thomsonreuters.com; +918067497252;))