Saudi stocks edge up, Qatar soft in early trade

Saudi Arabia’s stock market edged up in early trade on Thursday while Qatar’s bourse softened, as regional trade was thinned by the closure of the United Arab Emirates and Kuwait for public holidays.

The Saudi index added 0.2 percent in the first hour as retailer United Electronics gained 2.3 percent after saying it had launched a partnership with online retailer Noon.com to be its exclusive supplier of home and electronic appliances in Saudi Arabia.

In Qatar, the index fell 0.6 percent as Qatar Islamic Bank slipped 1.2 percent. But shipper Qatar Navigation , which has been rebounding from an eight-year low hit in mid-November, jumped a further 5.8 percent. Source: Reuters