Dubai's main share index hits fresh record high
May 19 (Reuters) - Most stock markets in the Gulf settled higher on Monday including Dubai's main share index (.DFMGI), opens new tab, which rose 0.7% to a record high for a second consecutive session.
The index had scaled a record on Friday, boosted by a slew of business agreements between the United Arab Emirates and the U.S.
President Donald Trump on his last stop of a Gulf tour said that the two countries had agreed on a path for the Gulf nation to buy advanced semiconductors used for artificial intelligence technologies from U.S. companies, a major win for Abu Dhabi's efforts to become a global AI hub.
Abu Dhabi's benchmark index (.FTFADGI), opens new tab closed up 0.12% on Monday.
On Dubai's main index, lender Emirates NBD Bank (ENBD.DU), opens new tab, was the top gainer, closing up 3.5%.
Qatar's benchmark stock index (.QSI), opens new tab also finished the day 0.7% higher, with Qatar Islamic Bank (QISB.QA), opens new tab settling up 1.6%.
Meanwhile, oil prices fell on Monday, pressured by Moody's downgrade of the U.S. sovereign credit rating and disappointing data from China, where official figures revealed a slowdown in both industrial output and retail sales.
Saudi Arabia's benchmark stock index (.TASI), opens new tab closed down 0.3%. Electrical components and equipment maker Middle East Specialized Cables Company (2370.SE), opens new tab was the top loser, down 5.8%.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab fell 1.13%.
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