Markets fell in Asia and Europe on Tuesday as yields on euro zone bonds rose, reflecting concerns about the ability of politicians in Italy and Greece to push through reforms to resolve the crisis.
"All eyes are on Europe, on Italy and Greece. We are in a cautious, wait-and-see mode," said Haissam Arabi, chief executive and fund manager at Gulfmena Investments.
In the UAE, Abu Dhabi National Energy Co. (TAQA), the state-run oil and gas utility firm, rose 0.9 percent, after it said third-quarter net profit more than doubled.
TAQA reported a third-quarter net profit of 537 million dirhams ($146.2 million) compared with 218 million a year ago.
Abu Dhabi's bourse eased 0.3 percent to 2,480 points.
In Dubai, struggling developer Union Properties eased 1 percent after its third-quarter net loss more than doubled as it booked additional provisions amid a sharper drop in the valuation of its properties.
Dubai's benchmark ended slightly higher to close at 1,388 points. Bourses in Kuwait and Bahrain also rose.
In Saudi Arabia, the Tadawul All-Share Index (TASI) declined 0.2 percent to 6,228 points.
Oman's Renaissance Services dropped 6.9 percent after its third-quarter net profit plunged 75 percent, helping Muscat's benchmark close lower.
The oil services firm said it may need to book additional provisions before year-end related to its Topaz unit, an earnings document seen by Reuters on Monday showed.
Kuwait Finance House rose 2.3 percent after reports in a local paper that Saudi's Al-Rajhi is considering a stake in the Islamic bank.
The company said it was unaware of plans by Al-Rajhi for a stake buy.
