Most Gulf markets take a breather; Abu Dhabi flat

An investor monitors a screen displaying stock information at the Abu Dhabi Securities Exchange June 25, 2014./File Photo

Sept 27 (Reuters) - Saudi Arabia's benchmark index outperformed Gulf peers in early trade on Tuesday, having fallen more than 5% in the previous three sessions, on economic growth concerns.

The benchmark index (.TASI) in Saudi Arabia advanced 1.4%, boosted by a 1.3% rise in Retal Urban Development Co (4322.SE) and a 1.5% gain in Al Rajhi Bank (1120.SE).

Among other gainers, oil behemoth Saudi Aramco (2222.SE) added 1%.

Crude prices, a key factor for the Gulf's financial markets, rose more than 1%, after plunging to nine-month lows a day earlier, amid indications that producer alliance OPEC+ may enact output cuts to avoid a further collapse in prices.

Dubai's main share index (.DFMGI) rose 0.5%, on course to end four sessions of losses, led by a 3.2% leap in top lender Emirates NBD (ENBD.DU).

In Abu Dhabi, the index (.FTFADGI) traded flat.

Companies in the United Arab Emirates are largely resisting demands for higher pay to offset the impact of inflation, according to a survey that showed two-thirds of companies have received requests for salary increases. read more

The Qatari index (.QSI) climbed 1%, with Qatar Islamic Bank (QISB.QA) rising 1.3%, while petrochemical maker Industries Qatar (IQCD.QA) was up 1.4%.

However, Ooredoo (ORDS.QA) fell 0.5%, after the telecom firm announced on Monday that it is preparing for a sale of 20,000 of its towers, with sources close to the matter saying it has engaged Morgan Stanley to work on the deal. read more

Reporting by Ateeq Shariff in Bengaluru; editing by Uttaresh.V

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