Mideast Stocks: Abu Dhabi leads most major Gulf markets higher in early trade

Sa Sa International Holdings

09/05/2021 09:07

May 9 (Reuters) - Most major Gulf stock markets rose in
early trade on Sunday, with aquaculture firm International
Holding continuing to support the Abu Dhabi index.
    The index  .ADI  increased 0.7%, with First Abu Dhabi Bank
 FAB.AD , the country's largest lender, rising 0.7%, whereas
International Holding  IHC.AD  climbed over 1%, on track to
extend gains for a fourth consecutive session.
    International Holding posted 1.5 billion dirhams ($408.4
million) of profit in the first quarter compared with 112.2
million dirhams a year earlier.  urn:newsml:reuters.com:*:nFWN2MS1N1
    The company's board also approved acquiring stake in four
companies through its units.  urn:newsml:reuters.com:*:nFWN2MS1MZ
    Elsewhere, telecoms firm Etisalat  ETISALAT.AD  was up 0.5%.
    The Abu Dhabi-based telecoms operator Etisalat is set to
raise 1 billion euros ($1.22 billion) in dual-tranche bonds on
Thursday, Reuters reported, citing a document from one of the
banks leading the deal.  urn:newsml:reuters.com:*:nL1N2MT0HB
    Saudi Arabia's benchmark index  .TASI  added 0.3%, with
Jabal Omar Development  4250.SE , one of Saudi Arabia's largest
listed property developers, rebounding over 3%.
    In the previous session, the developer retreated following a
news report saying that the kingdom is considering barring
overseas pilgrims from the annual haj for the second year
running as COVID-19 cases rise globally and worries grow about
the emergence of new variants.  urn:newsml:reuters.com:*:nL8N2MR6NV
    In Dubai, the main share index  .DFMGI  rose 0.7%, buoyed by
gains in property shares. Emaar Properties  EMAR.DU , Dubai's
biggest developer, advanced 1.8%, while its shopping centre unit
Emaar Malls  EMAA.DU  traded 2.6% higher.
    Dubai's tourism chief last week said he was very optimistic
business and leisure travellers would return this year, though
the pandemic made it difficult to predict exactly how many.
 urn:newsml:reuters.com:*:nL8N2MR2Z1
    In Qatar, the benchmark  .QSI  eased 0.1%, hit by a 0.8%
fall in petrochemical firm Industries Qatar  IQCD.QA .
    
($1 = 0.8222 euros)

($1 = 3.6728 UAE dirham)

 (Reporting by Ateeq Shariff in Bengaluru)
 ((AteeqUr.Shariff@thomsonreuters.com; +918061822788;))