Middle East Stocks Mixed, Qatar Continues to Rise as Investors Chase Dividend Yields
MidEast shares were mixed, but Qatar continued to rise on the back of foreign buying in search of dividend yields.
Meanwhile, Saudi stocks rose, supported by a climb in Brent crude to the highest level in 2.5 years.
In company news, Union Properties said it was in the final stage of selling its entire stake in Emicool, a district cooling service provider. It was not specific about how it would use proceeds of the sale, only saying it would strengthen its focus on core operations and enter new sectors.
Ithmaar Holding said it had obtained approval from Bahrain's central bank to list its shares in Dubai.
GB Auto said Al Olayan Saudi Investment Company had bought 1.19 million shares of the company, bringing its stake to 5.05%.
Saudi Arabia's main index firmed 0.1% to 7,300 points, Dubai dipped 0.1% to 3,499 points, Abu Dhabi dropped 0.3% to 4,580 points, Qatar gained 0.5% to 9,048 points, Egypt rose 0.2% to 15,193 points, Kuwait inched up 0.1% to 6,525 points, Bahrain added 0.2% to 1,318 points and Oman eased 0.1% to 5,100 points.
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