Most stock markets in the Gulf were up in early trading on Monday, led by the Qatar index, as hopes of rising fuel demand this summer lifted crude prices.
Oil prices, a catalyst for the Gulf's financial markets, edged higher, with the benchmark Brent crude up 0.4% at $79.97 a barrel by 0740 GMT. The Qatari benchmark index (.QSI), opens new tab rose 0.4%, helped by a 0.9% rise in Qatar National Bank (QNBK.QA), opens new tab, the region's largest lender, and a 0.7% gain in Qatar Gas Transport (QGTS.QA), opens new tab.
Saudi Arabia's benchmark stock index (.TASI), opens new tab was up 0.2%, with most of its constituents posting gains. Saudi Telecom (7010.SE), opens new tab, the kingdom's largest network operator, added 1.1% and Sahara International Petrochemical (2310.SE), opens new tab gained 2.2%.
Dubai's benchmark stock index (.DFMGI), opens new tab rose 0.2%, supported by gains in real estate, utilities and finance. The blue-chip developer Emaar Properties (EMAR.DU), opens new tab rose 1.9% and Mashreqbank (MASB.DU), opens new tab added 1.5%.
The Abu Dhabi benchmark index (.FTFADGI), opens new tab was up 0.2%, with the emirate's largest developer Aldar Properties (ALDAR.AD), opens new tab rising 1.9% and conglomerate Alpha Dhabi Holding (ALPHADHABI.AD), opens new tab gaining 1.8%.
