* Petrochemical, banking shares lift Saudi
* Kingdom Holding gains on profit form Disney share swap
* Dubai-listed GFH climbs after unit raises $50 mln in new
* Arabtec down before Q4 results
* Kuwait rebounds but NREC, Agility down on convertible deal
* Egypt retreats on profit booking
By Celine Aswad
DUBAI, Feb 12 Petrochemical and banking shares
boosted Saudi Arabia's bourse on Sunday after oil prices firmed
at the end of last week, while small and mid-sized stocks were
the main movers on other Gulf markets.
Saudi Arabia's index added 0.8 percent with nearly
three-quarters of the 14 listed Saudi petrochemical shares
advancing, after Brent oil futures closed 1.9 percent
higher at $56.70 a barrel on Friday. Saudi Industrial Investment
was the top gainer in the sector, jumping 5.5 percent.
The positive mood spilled into other sectors, with banking
shares also advancing. Saudi British Bank climbed 3.8
Billionaire Prince Alwaleed bin Talal's Kingdom Holding
rose 2.2 percent after it traded 90 percent of its
shares in Euro Disney into Walt Disney Co
stock, gaining a net profit of $61 million in the deal.
Dubai's main index added 0.5 percent on the back of
an 8.6 percent jump in Dubai Financial Market (DFM).
Last week, DFM reported its fourth-quarter net profit had jumped
5 times from the prior-year period.
GFH Financial Group climbed 5.3 percent after the
Bahrain-based company announced that one of its subsidiaries had
raised $50 million for one of its funds and the financial impact
was expected to be reflected in first-quarter results.
Dubai Investment added 1.6 percent after a
subsidiary acquired a 153,000 square foot (14,214 square metre)
shopping centre in Ventura, California. The value of the
acquisition was not disclosed.
But shares in builder Arabtec lost 2.2 percent
ahead of quarterly results expected to be announced on Monday.
After the market close on Sunday Reuters reported, quoting
unnamed sources, that Arabtec was working with boutique
investment bank Moelis to study options for the company's
capital structure. A mandate for restructuring advisory firm
AlixPartners to reduce overheads for the loss-making builder was
completed at the end of last year.
In Abu Dhabi, RAK Properties gained 1.3 percent
after its full-year net profit rose 9.2 percent and revenue in
2016 came in 6 percent higher.
But the Abu Dhabi index closed near flat as blue-
chip banks capped gains. National Bank of Abu Dhabi
fell 1.4 percent.
Kuwait's index rebounded 0.8 percent in heavy
volume, recovering most of Thursday's losses. Jazeera Airways
rose 1.5 percent after the board recommended a cash
dividend of 35 fils per share. The airline reported a drop of
29.9 percent in 2016 full-year net profit.
National Real Estate, however, lost 5.3 percent
after it signed to obtain a $101.5 million, five-year
convertible loan from a subsidiary of Agility. The
loan has the option of conversion into NREC shares before
maturity. Agility slumped 7.1 percent.
In Egypt, the main index retreated 1.5 percent to
12,922 points, pulling away from resistance on its record high
of 13,544 points, hit last month.
Arabian Cement lost 4.9 percent. Analysts at
Cairo's Naeem Brokerage said the company might see some pricing
pressure in the first quarter of 2017 but the longer-term demand
outlook for cement remained healthy.
* The index rose 0.8 percent to 7,022 points.
* The index added 0.5 percent to 3,702 points.
* The index edged up 0.02 percent to 4,570 points.
* The index gained 0.3 percent to 10,663 points.
* The index lost 1.5 percent to 12,922 points.
* The index added 0.8 percent to 6,637 points.
* The index edged down 0.02 percent to 5,819 points.
* The index inched up 0.2 percent to 1,309 points.
(Editing by Andrew Torchia and Stephen Powell)