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MIDEAST STOCKS-Most Gulf markets rise in early trade

Credit: REUTERS/AHMED YOSRI

Most stock markets in the Gulf rose in early trade on Wednesday, with financial shares boosting the Dubai Index.

Sept 23 (Reuters) - Most stock markets in the Gulf rose in early trade on Wednesday, with financial shares boosting the Dubai Index.

Dubai's main share index .DFMGI rose 1%, on track to end three sessions of losses, with the country's largest sharia-compliant lender Dubai Islamic Bank DISB.DU gaining 2.6%, while Emirates NBD Bank ENBD.DU was up 1%.

The Abu Dhabi index .ADI added 0.5%, helped by a 0.7% rise in Emirates Telecommunications ETISALAT.AD and a 0.4% increase in First Abu Dhabi Bank (FAB) FAB.AD.

FAB, the United Arab Emirates' largest lender, has hired banks to arrange an investor call ahead of an issuance of U.S. dollar-denominated bonds, a document showed.

The planned Additional Tier 1 perpetual bonds are not callable for six years, the document showed.

In Qatar, the index .QSI firmed 0.3%, helped by a 2.7% jump in United Development Company UDCD.QA.

** Saudi Arabia was closed for a public holiday.

(Reporting by Ateeq Shariff in Bengaluru; Editing by Mark Potter)

((AteeqUr.Shariff@thomsonreuters.com; +918061822788;))

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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