Gulf shares up in early trading, Qatar slips
By Md Manzer Hussain
Nov 19 (Reuters) -Most stock markets in the Gulf were up in early trade on Tuesday, but Qatar slipped due to losses across most sectors.
Dubai's benchmark stock index .DFMGI rose 0.4%, rebounding after losses in the previous session, with Commercial Bank of Dubai CBD.DU adding 4.1% and Emaar Properties EMAR.DU advancing 1.7%.
The Abu Dhabi benchmark index .FTFADGI was up 0.6%, supported by a 0.6% rise in International Holding Company IHC.AD and a 2.6% gain in ADNOC Gas ADNOCGAS.AD.
Among other gainers on the day, Phoenix Group PHX.AD added 3% after it said its founders were planning to purchase the company's shares on the open market.
Saudi Arabia's benchmark stock index .TASI extended its rally to a third session, rising 0.3%, with most sectors in the green. ACWA Power 2082.SE gained 0.5% and Saudi Electricity 5110.SE added 0.7%.
ACWA and a consortium of Saudi Electricity Co and Korea Electric Power Corp signed power purchase agreements worth 15 billion riyals ($4 billion) with the Saudi Power Procurement Company.
Saudi Aramco 2222.SE climbed 0.7%. The oil major said that the company and Sinopec Corp 0386.HK have started constructing a refinery and petrochemical complex in southeast China's Fujian province.
The Qatari benchmark index .QSI fell 0.2%, dragged down by losses among most sectors, with Qatar International Islamic BankQIIB.QA sliding 0.7%, and Ooredoo Qatar ORDS.QA shedding 0.6%.
($1 = 3.7540 riyals)
Reporting by Md Manzer Hussain; Editing by Sonia Cheema
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