Gulf markets edge up early on, Dubai's Emaar continues rebound

DUBAI - 3 January 2018: Gulf stock markets edged up in early trade on Wednesday, buoyed by strong global bourses and the return of some investors in the Gulf from New Year holidays.

Dubai’s index added 0.4 percent as blue chip Emaar properties gained 1.0 percent. Another bellwether for the Dubai market, logistics firm Aramex, fell 1.9 percent after a higher opening.

Abu Dhabi’s index was 0.1 percent higher as banks stayed firm, with Abu Dhabi Commercial Bank edging up 0.3 percent. Qatar was 0.6 percent higher as Barwa Real Estate rose 1.2 percent.

Saudi Arabia’s index, which had fallen in the first two days of this year after the government hiked domestic gasoline prices, rebounded 0.3 percent. Industrial holding company Saudi Advanced Industries climbed 3.5 percent.