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Middle East Stocks Mixed Ahead of Eid Holiday

MidEast shares were mixed ahead of the Eid holiday.

Eid holiday begins on Wednesday in the Saudi market and on Thursday in UAE markets, extending into the first few days of next week.

Dubai rose, lifted by strong gains in property developer Emaar and ongoing optimism for a series of initiatives to reduce corporate costs and stimulate growth.

Dubai Islamic Bank also rallied for the second consecutive session after its 5.1 billion dirham rights issue was nearly three times oversubscribed.

Saudi Arabia's main index eased 0.4% to 8,243 points, Dubai rallied 1.4% to 3,243 points, Abu Dhabi firmed 0.9% to 4,733 points, Qatar slipped 0.2% to 9,203 points, Kuwait lost 0.6% to 4,754 points, Bahrain gained 0.5% to 1,281 points, Oman was flat at 4,603 points and Egypt slumped 1.4% to 15,921 points.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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