• Aramex gains on higher revenue

• Egypt's cabinet approves sukuk law

DUBAI: Most stock markets in the Gulf ended higher on Thursday, with Qatar leading on broad-based gains, while the Saudi index bucked the trend to close flat. The Qatari index advanced 1.7%, as most of the stocks were in positive territory including the Gulf's largest lender, Qatar National Bank.

Dubai's main share index rose 0.3%, driven by a 2.1% rise in its largest lender, Emirates NBD Bank, and a 1.3% increase in logistic firm Aramex, despite reporting a fall in third-quarter profit.

However, Aramex posted a revenue of 1.51 billion dirhams ($411 million) in the quarter ended Sept. 30, down from 1.27 billion dirhams year ago. In Abu Dhabi, the index closed up 0.6%, with top lender First Abu Dhabi Bank rising 1.2%.

The benchmark index in Saudi Arabia finished flat, a day after it climbed over 1%. In the previous session, Saudi Arabian shares advanced over 1% after President Donald Trump falsely claimed victory in a tight US election.

Outside the Gulf, Egypt's blue-chip index gained 0.7%, with Commercial International Bank adding 1.2%. On Wednesday, the Arab state's cabinet approved a new law to issue sovereign sukuk and will send it to parliament for a vote, finance minister Mohamed Maait said. Once parliament and the president approve the law, the country will issue its first sovereign sukuk, the ministry said.