MIDEAST STOCKS Most Gulf bourses drop in early trade

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A Saudi trader observes the stock market on monitors at Falcom stock exchange agency in Riyadh, Saudi Arabia February 7, 2018. REUTERS/Faisal Al Nasser

Sept 5 (Reuters) – Most major stock markets in the Gulf were subdued on Sunday, pressured by Friday’s fall in oil prices after a weaker than expected U.S. jobs report indicated a patchy economic recovery from the COVID-19 pandemic.

Brent crude futures settled fell by 42 cents, or 0.6%, to $72.61 a barrel.

In Abu Dhabi, the stock market index (.ADI) dropped 0.5% as telecoms company Etisalat (ETISALAT.AD) fell by 1.9% to remain on track to extend losses for a third session.

Meanwhile, Abu Dhabi removed the need to quarantine for all vaccinated travellers arriving from international destinations from Sunday. read more

Saudi Arabia’s benchmark index (.TASI), however, traded flat in a choppy trade.

The kingdom’s non-oil private sector continued to grow in August but lost momentum with a sharp drop in output…

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