Gulf Arab oil-price sensitive markets regain ground

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DUBAI, Nov 27 (Xinhua): As the oil prices rebounded Monday on positive news from US retailers, equity indexes in Riyadh, Kuwait and Abu Dhabi edged higher.
After hitting a 10-month low on Sunday, the Saudi Arabian Tadawul All-Share Index added 0.35 per cent to reach 6,547.19 points Monday. The gauge received tailwinds from oil prices which climb half a per centage points to hit 109.32 US dollars (DME Oman Crude).
Shares of Saudi Arabia's second telecom operator Etihad Etisalat or Mobily bounced back by 1 per cent to reach 72 Saudi riyal (18.72 dollars).
The sheikhdom of Kuwait, which produces every day more oil than Algeria and Indonesia combined, saw its KSE Market Index to rise to a one-month high at 5,903.24 points.
The Abu Dhabi Securities Market ADX ended an 8-day losing streak by advancing 0.40 per cent to touch 2,646.51 points as most banks and telecoms gained.
The emirate's largest lender National Bank of Abu Dhabi or NBAD soared 2.40 per cent to close at 9.89 Dirham (2.70 dollars). Emirati telecom giant Etisalat added slightly to finish at 9.89 Dirham (2.69 dollars).
Elsewhere in the region, the FTSE NASDAQ Dubai UAE 20 Index closed unchanged at 1755.17 points.
Depa Limited, the region's largest interior design firm soared 1.33 per cent to reach 0.38 dollar. Earlier the day, Depa's Singaporean subsidiary Design House said a 102 per cent rise in the third quarter net profits amounting to 40.8 million dollars, mainly due to strong sales increases in China.