38 C
Dubai
Friday, July 11, 2025
spot_img

Dubai leads Gulf markets higher; Abu Dhabi falls on oil slump

[ad_1]

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).

Saudi Arabia Benchmark Index (.one) Up 0.2% thanks to Dr Sulaiman Al-Habib Medical Services, up 0.8% (4013.SE).

Among other gainers, Etihad Etisalat (7020.SE) It rose 2.4 percent the day before ex-dividend trading.

In Qatar, the index (.QSI) Shares in petrochemical maker Qatar Industries rise 0.2% (IQCD.QA) Increased 0.8% and Nakilat Co, which transports Qatari gas (QGTS.QA) climbed 1%.

In Abu Dhabi, whose economy is largely dependent on oil, the index (.FTFADGI) Commodities traded down 0.1% slipped and fell.

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

Our standards: Thomson Reuters Trust Principles.

[ad_2]

Source link

Related Articles

Abu Dhabi and Dubai Light Up: Star-Studded Concerts Featuring Enrique Iglesias, Limp Bizkit & Mary J. Blige

Abu Dhabi and Dubai are gearing up to host a spectacular series of concerts featuring internationally acclaimed artists, promising a vibrant season of live...

‘Make it in the Emirates’ Forum Unveils Future-Ready Industries

'Make it in the Emirates' forum opened with significant anticipation and enthusiasm in Abu Dhabi, drawing key stakeholders from across the industrial, economic, and...

Mavent Restructuring Services LLP: Reinventing the Future of Corporate Turnaround

In a world where businesses are constantly navigating storms—economic shifts, market disruptions, and financial turbulence—some sink, and others evolve. Enter Mavent Restructuring Services LLP,...

Global Rankings Leader U.S. News & World Report Enters India with Investment in The Red Pen

With a growing appetite for international education among Indian students, this new partnership is set to reshape how families approach global admissions. For years, The...

Age Is Just the Beginning: How Hardik Dewan Is Transforming Youth Potential into Power

The Teenager Who’s Already Shaping India’s Future At an age when most are still figuring out college applications or their first internships, Hardik Kumar Dewan...

Latest Articles