Major Gulf bourses up on strong oil prices; Egypt extends slide
Major stock markets in the Gulf rose on Monday led by the Abu Dhabi benchmark on higher oil prices, while shares in Egypt continued to ease for a second straight session.
Oil prices - a catalyst for the Gulf's financial markets - gained, as attacks on Russian energy facilities intensified with Brent rising 0.8% to $86.02 a barrel by 1330 GMT.
The index encountered a technical glitch earlier in the day displaying inflated gains, before the issue got fixed towards the end of the trading session.
First Abu Dhabi Bank (FAB.AD), opens new tab, UAE's largest lender, gained 1.1% while Abu Dhabi National Oil's (ADNOC) units ADNOC Drilling (ADNOCDRILL.AD), opens new tab and ADNOC Logistics (ADNOCLS.AD), opens new tab climbed 1.8% and 1.3%, respectively.
The state-owned energy major ADNOC signed a 15-year deal to supply 1 MMT a year of LNG to a unit of Germany's state-owned Securing Energy for Europe.