Home Markets MIDEAST STOCKS Abu Dhabi hits record high as most Gulf markets gain

MIDEAST STOCKS Abu Dhabi hits record high as most Gulf markets gain

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Saudi woman walks at the Saudi stock market (Tadawul), in Riyadh, Saudi Arabia March 9, 2020. REUTERS/Ahmed Yosri/File Photo

July 25 (Reuters) – Most Gulf bourses ended higher on Sunday, as they reopened after a long Eid break, with the Abu Dhabi index hitting a record high.

During holidays in the Gulf, traders typically cash in shares and are generally cautious of any developments in global markets while their bourses are closed.

Saudi Arabia’s benchmark index (.TASI) gained 0.8%, with Al Rajhi Bank (1120.SE) rising 1.1% and Saudi Arabian Mining Company (1211.SE) up more than 5%.

Yanbu National Petrochemicals Company (2290.SE) advanced 2.2% after it announced completion of all required maintenance work and resumption of operations at the company’s plants.

After trading hours, the petrochemical firm also reported a sharp rise in quarterly net profit.

Dubai’s main share index (.DFMGI) finished 1.1% higher, buoyed by a 3.1% gain in Emirates NBD Bank

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