By Md Manzer Hussain
Feb 6 (Reuters) - Qatari stocks opened higher on Monday
after a five-session losing streak, while Abu Dhabi and Saudi
shares fell amid a volatile energy market.
Oil, which fuels the Gulf region's growth, edged higher
after falling about 8% last week, with Brent crude up
0.8% at $80.60 a barrel, as of 0730 GMT.
Demand in China, the world's largest crude importer and No.
2 buyer of liquefied natural gas, has become the biggest
uncertain factor in the global oil and gas markets in 2023.
The Qatari Stock index rose 0.8%, with almost all
sectors trading in positive territory. Industries Qatar and Qatar Commercial Bank climbed 1.9% and
2.6%, respectively.
Dubai's benchmark stock index rose 0.4%, with
almost all sectors trading in positive territory. Dubai
Electricity and Water Authority rose 1.3% and
Emirates Central Cooling climbed 1.3%.
Emirates NBD , Dubai's largest lender, and tolls
operator Salik gained 0.4% and 1.2%, respectively.
Saudi Arabia's benchmark stock index fell 0.8%,
extending losses to a sixth session. The index fell 1.34% on
Sunday in its worst session since Dec. 7.
Oil giant Aramco opened down 1.1%, with Al Rajhi
Bank , the world's largest Islamic bank by market
value, shedding 0.8%.
Saudi Basic Industries and Riyad Bank fell 2.2% and 2.1%, respectively.
In Abu Dhabi, the benchmark stock index opened
down 0.1%, weighed down by a 1% drop in First Abu Dhabi Bank , the country's biggest lender, and a 0.8% decline in
telecoms provider Emirates Telecommunications .
(Reporting by Md Manzer Hussain; Editing by Subhranshu Sahu)
Messaging: MdManzer.Hussain@thomsonreuters.com))
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.