7 things to watch as UAE markets open

Here is what you need to know as the opening bell rings in the United Arab Emirates.

1) Oil prices pushed higher on Monday though analysts remained skeptical of a strong rebound. Brent crude last was up 0.3 percent at $44.40/bbl and WTI crude rose 0.3 percent to $41.94/bbl.

2) Asian markets had a positive start to the week, with Japan’s Nikkei rising 2.2 percent as the region’s markets neared closing hours. China’s CSI300 index was last up 0.3 percent.

3) Al Mazaya Holding has acquired an additional 50 percent stake in one of its Turkish affiliates for KWD 7.7 million ($25 million).

4) Logistics firm Agility reported a net profit of KWD 15 million for second quarter of 2016, up from KWD 13.5 million in Q2-2015.

5) Amanat Holdings posted a net profit of AED 14.3 million for Q2-2016, an increase from AED 124,000 in the same period last year.

6) Fitch Ratings upgraded UAE-based port operator DP World Limited's long-term issuer default rating (IDR) to BBB from BBB- and its short-term IDR to F2 from F3.

7) Abu Dhabi-listed Finance House bought back 50,000 of its own shares, with a purchase price of AED 1.78 per transaction.

Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com