Mideast Stocks: Major Gulf bourses mixed in early trade

Sa Sa International Holdings

14/11/2021 08:25

Nov 14 (Reuters) - Major stock markets in the Gulf were
mixed in early trade on Sunday, with the Saudi index on track to
extend gains for a second session, while the Abu Dhabi index
retreated from a record high.
    Saudi Arabia's benchmark index  .TASI  edged 0.1% higher,
with Saudi Telecom Company  7010.SE  rising 0.9% and Al Rajhi
Bank  1120.SE  putting on 0.3%.
    However, Saudi mall operator Arabian Centres  4321.SE 
plunged 10%. On Thursday, Arabian Centres said its title deed on
a piece of land in Riyadh has been cancelled by a court.
 urn:newsml:reuters.com:*:nFWN2S2234
    Dubai's main share index  .DFMGI  rose 0.2%, supported by a
8.2% jump in Dubai Financial Market (DFM)  DFM.DU .
    Earlier this month, the emirate announced plans to launch a
2 billion dirham ($545 million) market-maker fund and initial
public offerings of 10 state-backed companies as part of plans
to boost activity on the local bourse.  urn:newsml:reuters.com:*:nL1N2RS1OZ
    Since the announcement DFM has risen more than 70%.
    The United Arab Emirates plans to list Dubai's "Salik" road
toll system on the Dubai financial market, its finance minister
Maktoum Bin Mohammed said on Twitter on Saturday.  urn:newsml:reuters.com:*:nC6N2R400O
    Union Properties  UPRO.DU  declined 5.8%.
    On Tuesday, the company said its chairman, Khalifa Hassan
al-Hammadi, was dismissed from the board following the
disclosure that the public prosecution office in the United Arab
Emirates had ordered his arrest.  urn:newsml:reuters.com:*:nL8N2S16XF
    The UAE attorney general announced the investigation in
October into allegations of financial violations by the chairman
and other officials of Union Properties, state news agency WAM
had reported.  urn:newsml:reuters.com:*:nL1N2RK03A
    In Abu Dhabi, the index  .ADI  eased 0.1%, retreating from a
record high it reached in the previous session, with
conglomerate International Holding  IHC.AD  losing 0.5%.
    The Qatari index  .QSI  fell 0.5%, weighed down by a 1.1%
fall in Commercial Bank  COMB.QA .
 ($1 = 3.6729 UAE dirham)
 ($1 = 3.7504 riyals)

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