Mideast Stocks: Most major Gulf markets rise; Qatar dips

Sa Sa International Holdings

18/04/2021 09:09

April 18 (Reuters) - Most major stock markets in the Gulf
rose in early trade on Sunday, with property shares boosting the
Dubai index, although Qatar bucked the trend to trade lower.
    Saudi Arabia's benchmark index  .TASI  added 0.6%, with Al
Rajhi Bank  1120.SE  rising 1.4% and SABIC Agri-Nutrients Co
 2020.SE  advancing 3.9%.
    Elsewhere, Bank Albilad  1140.SE  climbed 1%, as the lender
completed a 3 billion riyal sukuk offering.
    Dubai's main share index  .DFMGI  rose 0.7%, led by a 2.3%
rise in Emaar Properties  EMAR.DU  and a 3.2% jump in Emaar
Malls  EMAA.DU .
    Emaar Properties, Dubai's largest listed real estate
developer, will go ex-dividend on Tuesday.
    The managing director of Emaar said earlier this month that
the company had first-quarter sales of 6 billion dirhams, up
from 2.5 billion dirhams a year earlier.  urn:newsml:reuters.com:*:nD5N2K2014
    In Abu Dhabi, the index  .ADI  rose 0.8%, buoyed by a 7.6%
surge in aquaculture firm International Holding  IHC.AD .
    International Holding has gone through rapid expansion
across its major business sectors, resulting in a sharp growth
in its financials, positioning it for long-term growth.
    The Qatari index  .QSI  fell 0.7%, with Commercial Bank
 COMB.QA  shedding 3.3%, while petrochemical firm Industries
Qatar  IQCD.QA  retreated 1.2%.
    In the previous, Qatar's index saw its biggest intraday gain
in over a year after its cabinet approved a bill to allow
non-Qatari investors to own up to 100% of listed companies'
capital.  urn:newsml:reuters.com:*:nL1N2M72ZI
    The cabinet also decided to keep central bank liquidity
support for local banks based on need as the country faces a
second wave of coronavirus infections.

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