Feb 7 (Reuters) – Middle Eastern stock markets were mixed in trade on Monday, with Dubai’s main share index (.DFMGI) up more than 0.5%, as oil prices fluctuated.
Oil prices bounced around on Monday in see-saw trading, with some investors taking profits after signs of progress in the U.S.-Iran nuclear talks, while others kept bullish sentiment bolstered by rising consumption amid ongoing supply constraints.
Saudi Arabia’s benchmark index (.TASI) edged up 0.07%, boosted by materials and consumer staples.
Dubai’s main share index (.DFMGI) was up 0.56%. Index heavyweight(ENBD.DU) and D Emirates NBD Bank ubai Investments PJSC (ENBD.DU) drove gains.
Shares of Dubai Islamic Bank (DISB.DU) were up marginally after a document showed the United Arab Emirates’ largest Islamic lender has hired banks to arrange a sale of five-year U.S. dollar-denominated sukuk. read more
In Abu Dhabi, the index (.FTFADGI) was down 0.2%, after having risen marginally in the previous session.
Meanwhile, the Qatari index (.QSI) also dipped slightly to trade nearly flat. Losses in financial stocks offset the gains in industrials.