Most Gulf markets closed higher on Thursday amid rising oil prices, with Qatar outperforming as Doha Bank jumped after releasing a five-year plan.
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Brent crude futures .LCOc1 were up 7 cents at $59.19 a barrel by 0939 GMT.
Doha Bank released a supplementary release to its full year earnings saying it has created a five years strategic plan to address challenging economic conditions.
The bank shed over 17% in its last three sessions, after its 2019 net profit dropped to 754 million riyals from 830 million riyals a year earlier.
Saudi Arabia’s benchmark index .TASI was up 0.5% as Al Rajhi Bank 1120.SE added 0.9% and Jabal Omar Development 4250.SE jumped 5.8%.
Oil giant Saudi Aramco 2222.SE ended up 0.8% at 33.65 riyals ($8.97).
Dubai’s index .DFMGI was up 0.4% with Emirates NBD Bank ENBD.DU rising 1.6% and Emirates Integrated Telecommunications DU.DU gaining 1.8%.
In Abu Dhabi, the index .ADI, however, closed 0.8% down, dragged by banking shares as First Abu Dhabi Bank FAB.AD lost 1.2% and Abu Dhabi Commercial Bank ADCB.AD shed 1.6%.
In Egypt, the blue-chip index .EGX30 edged up 0.2%. El Sewedy Electric SWDY.CA added rose 2.2% after it reported higher revenue in 2019 and proposed a per share dividend of 0.80 Egyptian pound.
Talaat Mostafa Group Holding TMGH.CA gained 1.8%. On Wednesday, the company said its unit will build a hotel with an investment cost of about 1.5 billion Egyptian pounds ($96.59 million) in partnership with Egyptian General Co For Tourism & Hotel.
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