July 3 (Reuters) – Most major stock markets in the Gulf region rose in early trade on Monday, with Dubai outperforming the region but Abu Dhabi bucking the trend.
Dubai main stock index (.DFMGI) – traded after a four-session break – rose 1.3 percent, boosted by a 3 percent gain in blue-chip developer Emaar Properties (Emma. You) Emirates NBD Bank rose 1.7% (ENBD.DU).
Among other gainers, Etihad Etisalat (7020.SE) It rose 2.4 percent the day before ex-dividend trading.
Oil – a key catalyst for Gulf financial markets – fell as worries about a global economic slowdown and the possibility of further rate hikes by the Federal Reserve weighed on prices, offsetting expectations for tighter supplies and OPEC+ output cuts.
Reporting by Ateeq Shariff in Bengaluru; Editing by Janan Venkatraman
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