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MIDEAST STOCKS-Gulf bourses mixed in early trade
March 1, 2017 / 8:24 AM / 9 months ago

MIDEAST STOCKS-Gulf bourses mixed in early trade

DUBAI, March 1 (Reuters) - Stock markets in the Gulf were mixed in thin early trade on Wednesday, Qatar and Abu Dhabi recovering after being the previous session’s worst-performing markets. Qatar’s index rose 0.5 percent after dropping 2.2 percent in the previous session. All banking shares gained ground, with Qatar National Bank adding 0.9 percent.

Abu Dhabi’s index, which lost 1.7 percent on Tuesday, rebounded with a 1 percent gain. The largest listed stock, telecoms operator Etisalat, rose by 1.7 percent.

In Dubai, meanwhile, the main index edged down by 0.2 percent as shares in the only listed Gulf exchange, Dubai Financial Market, fell 1.4 percent. Builder Arabtec dropped 1 percent, heading for a third straight session of losses.

Riyadh’s index barely moved in the first hour of trade. Petrochemical shares, which had rebounded in the previous session, were mostly lower and Nama Chemicals was down 1.2 percent.

Banks were mostly higher, however, with Alawwal Bank adding 1.9 percent. (Reporting by Celine Aswad; Editing by Andrew Torchia and David Goodman)

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