DUBAI, June 1 Most stock markets in the Gulf
rose in early trade on Thursday, with Abu Dhabi's Dana Gas still
buoyed by hopes for payments from the Kurdistan Regional
Dana added 2.4 percent, following Wednesday's 5.1
percent jump, after news that Pearl Petroleum, a consortium
involving Dana, had applied to a U.S. District Court for
recognition and enforcement of awards made at the London Court
of International Arbitration against the KRG.
Abu Dhabi's index rebounded 0.9 percent after falling
1.7 percent on Wednesday, with First Abu Dhabi Bank
advancing 1.4 percent.
Dubai's index was near flat as shares of DAMAC
Properties fell back 2.0 percent. They had climbed
3.5 percent on Wednesday as passive funds flowed in ahead of its
inclusion in MSCI's emerging market index on Thursday.
Qatar's index was also nearly flat after suffering a
1.6 percent loss in the prior session. Eight shares rose while
the same number declined.
The index has been under pressure since last week's news
that Ezdan Holding, one of the largest listed shares,
had received preliminary approval from shareholders to delist.
In Saudi Arabia, the index was up 0.1 percent after
45 minutes of trade. Real estate-related shares outperformed
with Saudi Real Estate up 3.4 percent.
Dairy producer Almarai rose 0.9 percent to a fresh
(Reporting by Celine Aswad; Editing by Andrew Torchia)