Prime Highlights
- Gulf markets rose broadly on Thursday, led by Dubai, as strong UAE and Saudi non-oil business data boosted investor confidence.
- Dubai’s index gained 1 percent with Emaar Properties and Emirates NBD among the top performers.
Key Facts
- Saudi Arabia’s non-oil private sector grew at its fastest pace in six months in August.
- Qatar’s index rose 0.3 percent, lifted by gains in Qatar National Bank.
Background
Gulf stock markets rose in early trade on Thursday, led by Dubai, as strong economic data from the United Arab Emirates and Saudi Arabia helped lift investor sentiment across the region.
UAE non-oil private sector activity expanded in August at its fastest pace since December 2024, supported by sharper increases in output and new business, a survey showed.
Dubai’s main index rose 1 percent, with nearly all sectors trading higher. Blue-chip developer Emaar Properties gained 2.6 percent, while Emirates NBD, Dubai’s largest lender, added 1.5 percent.
Abu Dhabi’s benchmark index edged up 0.3 percent, led by gains in real estate and basic materials stocks. Aldar Properties rose 2.4 percent, and conglomerate Alpha Dhabi Holding advanced 1.8 percent.
Saudi Arabia’s benchmark index advanced 0.3 percent, helped by gains in financial, utilities and materials stocks. Saudi Arabian Mining rose 1.4 percent, while Saudi National Bank, the kingdom’s largest lender by assets, gained 1 percent. Saudi Arabia’s non-oil private sector expanded at its fastest pace in six months in August, as market activity picked up.
Qatar’s benchmark index climbed 0.3 percent, supported by a 1.1 percent rise in Qatar National Bank, the Middle East’s largest lender by assets. Gulf International Services, a Doha-based oilfield services company, rose 2.3 percent.
Separately, ship-tracking firms reported that three LNG cargoes loaded in Qatar and the UAE were transferred between ships outside the Strait of Hormuz in recent weeks, continuing on to buyers in India and Japan.
