[ad_1]
Sept 9 (Reuters) – Abu Dhabi shares closed higher on Friday as oil prices rose, although the Dubai index ended a two-session losing streak to end flat.
Crude oil prices were the main catalyst for Gulf financial markets, up $1.70 as of 1056 GMT, amid supply threats and the OPEC+ oil production cuts announced this week.
In Abu Dhabi, stocks (.FTFADGI) It edged up 0.1%, supported by a 2.3% gain in investment firm Multiply Group (multiply.AD)And the telecommunications company e& (ETISALAT.AD)formerly known as Etisalat, rose 0.9 percent.
Sign up now for free unlimited access to Reuters.com
Three straight sessions of gains supported the index to end the week in the green after three straight weeks in the red.
Abu Dhabi stocks continued to rise following the performance of the oil market. If energy markets hold steady, the market could extend gains, said Farah Mourad, senior market analyst at XTB MENA.
Dubai’s main stock index (.DFMGI) closed plane.
Sign up now for free unlimited access to Reuters.com
Reporting by Mohd Edrees in Bengaluru; Editing by Krishna Chandra Eluri
Our standard: Thomson Reuters fiduciary principles.
[ad_2]
Source link