MIDEAST STOCKS Major Gulf stocks mixed; UAE, Saudi set for monthly gain

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Major Gulf stock markets were mixed in early trade on Monday, with indexes in the United Arab Emirates and Saudi Arabia set for monthly gains amid rising oil prices and signs of economic recovery.

have gained more than 3% this month and are up more than 34% year-on-year, according to Refinitiv Eikon data.

The United Arab Emirates' non-oil sector expanded in April as the seasonally adjusted IHS Markit UAE Purchasing Managers' Index edged up to 52.7, its highest level since July 2019 and the fifth consecutive month it has held above the 50.0 line that separates growth from contraction.

 

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