DUBAI: Saudi Arabian shares rebounded on Monday, led by gains in banking shares and corporate earnings announcements, while other major Gulf bourses were little changed.

Saudi Arabia’s benchmark index rose 0.8%, a day after it saw sharpest intraday fall since late August as Saudi Aramco disclosed its intention to list its shares on the domestic stock market.

National Commercial Bank increased 1.4% and Saudi British Bank advanced 3.2%.

Saudi Aramco on Sunday announced its intention to float on the domestic stock market in what could be the world’s biggest listing as the kingdom seeks to diversify its economy away from oil.

Seera Group Holding added 2.3% after it swung to profit in the third quarter. The travel operator posted a 64 million riyal ($17.07 million) profit, thanks to an increase in gross booking value by 6% to 3.3 billion riyals.

Among other stocks, City Cement gained 3.3% after posting third-quarter net profit.

In Qatar, the index edged up 0.1% with lender Masraf Al Rayan increasing 1.1% and Qatar Islamic Bank adding 0.6%.

In Abu Dhabi, the index closed 0.1% lower, led by a 9.3% plunge in Ras Al Khaimah For White Cement And Construction Materials. The firm on Sunday reported a drop in its third-quarter revenue, but it posted a higher profit compared with the same quarter a year earlier.

Dubai’s main share index traded flat, with lender Mashreqbank rising 5.3% while Emirates Integrated Telecommunications slid 3.6%.

However, Emaar Malls gained 0.5% after posting a 12.1% rise in its third-quarter profit.

Egypt’s blue-chip index traded flat as gains in financial stocks were capped by losses in real estate shares.

The country’s largest lender, Commercial International Bank, was up 1.3%, while developer Madinet Nasr ended 2% down.—Reuters