Major stock markets in the Gulf were mixed early on Monday in thin trade ahead of Eid al-Fitr holidays, with the Saudi index supported by financial shares.
Saudi Arabia's benchmark index (.TASI) edged up 0.2%, a day after trading flat. Saudi Telecom Company (7010.SE) rose 0.5%, while Saudi National Bank (1180.SE), the kingdom's largest lender, was up 0.3%.
Among others, Bank AlJazira (1020.SE) added 0.8%, as the lender announced redemption of its 2 billion riyals ($533.39 million) tier 2 sukuk.
However, Saudi Arabian supermarket retailer BinDawood Holding (4161.SE) retreated 1.4% following a decline in its first-quarter earnings.
In Dubai, the main share index (.DFMGI) fell 0.2%, hit by a 0.8% drop in its top developer Emaar Properties (EMAR.DU).
Budget airline Air Arabia gained 0.8%, despite reporting a fall in first-quarter earnings.
The Abu Dhabi benchmark (.ADI) dropped 0.6%, with First Abu Dhabi Bank (FAB.AD), the United Arab Emirates' largest lender, losing 1.1%, while aquaculture firm International Holding (IHC.AD) decreased about 1.5%.
Many investors prefer to cash in holdings ahead of the Eid holiday, which lasts for at least five days in most Gulf countries.
In Qatar, the index (.QSI) gained 0.1%, helped by a 0.4% rise in petrochemical firm Industries Qatar (IQCD.QA)
The Gulf Arab state on Sunday decided on gradually lifting coronavirus-related measures in four phases starting the first phase on May 28 and the fourth on July 30, the state news agency said, citing a health ministry statement. read more
($1 = 3.7496 riyals)
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May 10, 2021 at 02:56PM
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MIDEAST STOCKS Major Gulf markets trade mixed ahead of Eid holidays - Reuters
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