Mideast Stocks: Major Gulf bourses mixed in early trade as Omicron risks loom

Sa Sa International Holdings

21/12/2021 08:08

Dec 21 (Reuters) - Major stock markets in the Gulf moved in
different directions early on Tuesday, as surging cases of the
Omicron coronavirus variant remained a worry for investors.
    Saudi Arabia's benchmark index  .TASI  gained 0.3%, helped
by a 0.4% rise in Al Rajhi Bank  1120.SE  and a 0.7% increase in
petrochemical maker Saudi Basic Industries Corp  2010.SE .
    On the other hand, Sahara International Petrochemical Co
 2310.SE  retreated 1.4%, as the firm traded ex-dividend.
    OPEC+ compliance with oil production cuts rose to 117% in
November from 116% a month earlier, Reuters reported on Monday,
citing two sources from the group, indicating production levels
remain well below agreed targets.  urn:newsml:reuters.com:*:nL1N2T50X6
    Crude prices, a key catalyst for the Gulf's financial
markets, rose, though investors remained worried about the rapid
spread of the Omicron variant globally, prompting countries to
consider more restrictions potentially denting fuel demand.
 O/R 
    Dubai's main share index  .DFMGI  added 0.5%, with blue-chip
developer Emaar Properties  EMAR.DU  rising 1.3% and Emirates
Integrated Telecommunications  DU.DU  advancing 2.3%.
    Separately, the Dubai World Trade Centre (DWTC) will become
a crypto zone and regulator for cryptocurrencies and other
virtual assets, the Dubai Media Office said on Monday, part of
efforts to attract new business as regional economic competition
heats up.  urn:newsml:reuters.com:*:nL1N2T50FX
    In Abu Dhabi, the index  .ADI  dropped 0.8%, weighed down by
a 0.9% fall in Emirates Telecommunications Group  ETISALAT.AD 
and a 1.4% decline in conglomerate International Holding
 IHC.AD .
    The Qatari benchmark  .QSI  edged 0.1% higher, hit by a 0.9%
fall in petrochemical maker Industries Qatar  IQCD.QA .
    

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