- DUBAI/CAIRO: Dubai-listed Emirates NBD's shares slumped to a 25-week low on Tuesday after saying it will take over struggling Islamic lender Dubai Bank on orders by Dubai's ruler, while Gulf markets were mixed in muted trade.
- ENBD fell 1.6 percent to its lowest close since April 20.
Dubai's index slipped 0.1 percent to 1,388 points — one point away from last week's seven-month low.
In Saudi Arabia, Zain Saudi fell 1.7 percent. The Tadawul All-Share Index (TASI) slipped 0.3 percent to 6,118.62, ending a four-day winning streak.
Petrochemical stock fell with Yanbu National Petrochemicals Company (YANSAB) down 1.3 percent after net profit more than doubled in the third quarter but still missed analyst expectations.
In Kuwait, logistics firm Agility fell from Sunday's four-month high after denying reports that it had won a military contract worth up to $700 million.
Its shares, down 3.9 percent, resumed trading on Tuesday after a one-day suspension. The bourse halted trading in Agility after it rallying four straight sessions on rumors of a military contract.
The main index rose 0.2 percent to close at 5,859 points — its highest level since Sept. 26.
Mabanee Co. gained 1.2 percent and National Industries Group rose 4.3 percent.
Elsewhere, Egypt's benchmark index recouped some of Monday's losses, pushed higher by Citadel Capital. The index rose 2 percent to 4,018 points. Citadel jumped 6.3 percent as a foreign buyer bought more than 5 million shares in the private equity firm, traders said.
Analysts say the stock weakened after a 1 billion Egyptian-pound ($167.6 million) rights issue was only partially subscribed.
Citadel launched a second-round rights issue on Monday. A roadshow by investment bank EFG-Hermes could have drummed up foreign interest in Citadel stock, traders said.
"This roadshow may have resulted in some interest in the name. Citadel's been trading much lower than its enterprise value," said a trader at CIBC brokerage.
Among other gainers, Commercial International Bank climbed 1.5 percent and Orascom Construction jumped 6.4 percent.
Abu Dhabi's property stocks weighed on the benchmark with Aldar Properties down 1.8 percent and Sorouh Real Estate slipping 2 percent. The benchmark shed 0.2 percent to 2,494 points.
In Qatar, the index rose 0.8 percent to 8,353 points — a 10-day high with financial stocks the main support.
Masraf Al-Rayan gained 1.2 percent, Doha Bank climbed 2.2 percent and Commercial Bank of Qatar advanced 1.3 percent.

