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Wed 25 Nov 2009 10:14 AM

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Saudi index ends higher before Eid break

UPDATE 8: Real estate shares lift index in Dubai while Aabar boosts Abu Dhabi.

Gains in Al Rajhi Bank helped lift the Saudi index to a higher close, ahead of a week-long break for Eid.

Al Rajhi Bank

, the country's largest listed lender, rose two percent and
Banque Saudi Fransi

climbed 1.6 percent.
Arab Bank

gained 1.3 percent.

The index ended 0.8 percent higher at 6,356 points.

UAE markets ended a short trading week higher after real estate stocks helped lift the index.

Deyaar

surged 4.4 percent,
Emaar Properties

rose 0.7 percent and
Arabtec

gained 1 percent.

Abu Dhabi's index also ended higher, with gains across various sectors, although activity was modest.

Investment firm
Aabar

rose 2.2 percent. The company earlier on Wednesday said it entered into a $1.6bn loan agreement with local and international lenders.

The benchmark ended 0.6 percent higher at 2,910 points.

Kuwait's index extended gains and ended higher on Wednesday, lifted by banking and investment company stocks.

Gulf Bank

rose 3.5 percent and
Al Ahli Bank

gained 3.1 percent.
Kuwait Finance House

climbed 1.9 percent.

After surging 6 percent early in the session,
Zain

ended the session flat.

The index ended 0.9 percent higher at 6,934 points, its fourth gain in five sessions.

Qatar's index also ended higher, rising 0.6 percent to 7,193 points, while Bahrain's benchmark slipped 0.4 percent to 1,443 points.

Bluechips pulled Oman's index to a lower close, its fourth decline in five sessions as volumes fell to a fresh 10-month low.

Bank Muscat

fell 1.2 percent and
Oman Telecommunications (Omantel)

slipped 1.1 percent.

The index ended 0.1 percent lower at 6,386 points. (Reuters)