First Abu Dhabi Bank , the UAE's largest lender, climbed 2.6% on Thursday, its biggest gain in more than 2 months, while medical manpower staffing firm Response Plus Holding inching up 1.4% after it announced an annual dividend of 0.07 dirham a share. The benchmark stock index in Qatar was also up 0.4%, boosted by financials, with Sharia-compliant lender Masraf Al Rayan jumping more than 3% and chemical maker Industries Qatar rising 0.7%. ($1 = 3.7535 riyals) (Reporting by Shamsuddin Mohd in Bengaluru; Editing by Rashmi Aich)
March 30 (Reuters) - Gulf stock markets opened slightly
up on Thursday, tracking Asian peers and oil prices higher,
helped by improving investor sentiment as concerns over a recent
banking sector crisis eased.
Oil prices — a key catalyst for the gulf's financial markets
— was nearly steady, as a surprise drop in U.S. crude stockpiles
offset a smaller-than-expected cut to Russian supplies, while
investors closely watched developments on Iraqi Kurdistan oil
exports.
Brent crude futures fell 5 cents, or 0.1%, to $78.23
a barrel at 0630 GMT.
Saudi Arabia's benchmark stock index rose 0.7%, with
luxury real estate developer Retal Urban Development Company adding 0.7% and Al Rajhi Bank , Saudi
Arabia's second-largest lender by assets, edging up 0.8%.
Al Rajhi Bank is set to raise $1 billion with five-year
sustainable Islamic bonds, a document from one of the banks
arranging the deal showed on Wednesday.
Al Kathiri Holding Company surged nearly 10%,
after it completed 100 million riyals ($26.64 million) worth of
domestic sukuk offering.
Dubai's main share index advanced 0.4%, gaining for
a third consecutive session, led by real estate and utilities
stocks. The blue-chip developer Emaar Properties climbed 1.4%, and Emirates Central Cooling Systems Corporation inched up 0.5%.
In Abu Dhabi, the benchmark index also added
0.4%, after closing flat on Wednesday.
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