Oil prices rose for the third session today, Wednesday, with Brent crude up by 63 cents, or 0.8 percent, to $79.28 per barrel. The Saudi index increased by 0.3 percent, with shares of Dr. Suleiman Al Habib Medical Services Group rising by 3.6 percent and shares of the Saudi British Bank up by 1.9 percent. Shares of Bin Dawood Holding Company for retail stores closed up by 2.4 percent.
The main index in Dubai rose by 0.5 percent, continuing its gains for the second day, supported by strong gains in the financial and industrial sectors. Shares of Emirates NBD, Dubai's largest bank, and shares of Emirates Central Cooling Systems Corporation increased by 2.3 percent and 2.4 percent, respectively.
In Abu Dhabi, the index closed in the red, impacted by a decline in shares of First Abu Dhabi Bank, the largest lender in the UAE, down by 0.4 percent, and a drop in shares of Emirates Telecommunications Group (Etisalat) by 2.8 percent.
The Qatari index fell by 0.9 percent, affected by losses in the financial and industrial sectors. Shares of Qatar National Bank, the largest lender in the Gulf, and Qatar Islamic Bank decreased by 1.3 percent and 3.5 percent, respectively, while shares of Industries Qatar, a petrochemicals company, fell by 1.3 percent.
Outside the Gulf region, the Egyptian index for leading stocks rose by 2.5 percent, with 28 out of 31 shares on the index moving into positive territory. Shares of the Commercial International Bank, Egypt's largest private bank, increased by 1.8 percent, and shares of Eastern Company, the only cigarette producer in the country, jumped by 6.1 percent.
