DUBAI Jan 12 Blue chips helped carry Saudi
Arabia's stock index higher in early trade on Thursday after oil
prices recovered overnight, but profit taking in large capital
stocks weighed on other Gulf markets.
Riyadh's equities index had risen 0.6 percent after
45 minutes. Eight of the 12 listed banks advanced, with Saudi
British Bank, the sector's chief gainer, up 1.6
Petrochemical producers were also strong, with all but one
of 14 firms recovering some of this week's losses. Saudi Kayan
added 1.2 percent.
Blue chips dragged on Dubai and the main index was
down 0.1 percent, with Emaar Properties slipping 0.7
However, some small and mid-sized shares continued to be
snapped up; Gulf General Investment was the top
performer, jumping 4.9 percent.
The Abu Dhabi index pulled back 0.6 percent. First
Gulf Bank fell 1.5 percent and National Bank of Abu
Dhabi lost 2.4 percent. The duo are set to complete a
merger in coming months.
Qatar's index was also weak, edging down 0.2 percent
as the largest listed stock, Qatar National Bank, lost
(Reporting by Celine Aswad; Editing by Andrew Torchia and Mark