Most Gulf markets gain ahead of US election
By Ateeq Shariff
Nov 5 (Reuters) -Most stock markets in the Gulf rose on Tuesday as markets waited for early indications of the outcome of a knife-edge U.S. election.
Election Day ends an acrimonious campaign jolted by assassination attempts on Republican candidate and former President Donald Trump and the withdrawal of Democratic President Joe Biden in favour of Vice President Kamala Harris, with polls showing the candidates virtually tied.
Dubai's main share index .TASI rose 0.2%, with Emirates Integrated Telecommunications DU.DU up 2% and budget airliner Air Arabia AIRA.DU gaining 1.1%.
In Abu Dhabi, the index .FTFADGI added 0.6%, led by a 6.7% gain for Alpha Dhabi Holding ALPHADHABI.AD.
ADNOC Drilling Company ADNOCDRILL.AD and Alpha Dhabi Holding announced on Monday that their joint venture Enersol had agreed to acquire a 95% equity stake in Deep Well Services (DWS) for about $223 million including performance-based payments.
Shares of ADNOC Drilling were up 2.3%.
The Qatari index .QSI finished 0.2% higher, with Qatar Gas Transport Nakilat QGTS.QA rising 1.5%.
Saudi Arabia's benchmark index .TASI edged 0.2% lower, hit by a 1.5% fall in ACWA Power Company 2082.SE.
Oil giant Saudi Aramco 2222.SE reversed early losses to close 0.2% higher, despite reporting a 15.4% drop in third-quarter profit due to lower crude prices and weaker refining margins. It maintained its dividend at $31.1 billion for the quarter.
Outside the Gulf, Egypt's blue-chip index .EGX30 rose 0.5%.
SAUDI ARABIA | .TASI fell 0.2% to 12,015 |
ABU DHABI | .FTFADGI rose 0.6% to 9,384 |
DUBAI | .DFMGI added 0.2% to 4,595 |
QATAR | .QSI gained 0.2% to 10,569 |
EGYPT | .EGX30 up 0.5% to 30,794 |
BAHRAIN | .BAX closed flat at 2,019 |
OMAN | .MSX30 was up 0.1% to 4,722 |
KUWAIT | .BKP gained 0.2% to 7,667 |
Reporting by Ateeq Shariff in Bengaluru; Editing by Kirsten Donovan
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