Apr. 1--SAUDI TADAWUL INDEX GAINS LITTLE: Saudi investors remained cautious ahead of the G20 summit starting tomorrow. Saudi-Arabia is the only Arab G20 country. The G20 stands for 85 percent of the world's economic output. The Tadawul index closed 0.29 percent higher at 4,717.38 points, only because of a last-minute upswing. Market bellwether Sabic advanced by 0.73 percent, closing at SR42.10. The petrochemical congolmerate, also considered to be a GCC market indicator, gained territory step by step from its all-time low at SR34.1 on March 9 2009. Golf Union posted the biggest loss today (off 5.12 percent).

ABU DHABI MARKET DOWN 1.87 PERCENT: The Abu Dhabi Securities Exchange (ADX) declined by 1.87 percent to 2,441.28 points. Union Insurance Company posted the biggest loss (9.87 percent lower). Telecom giant Etisalat plummeted 6.72 percent. RAK Bank bucked the trend, gaining 9.70 percent. The national bank form the emirate of Ras Al-Khaima posted the one of the biggest net income gains in 2008, earning 57 percent ($173.1m) more than in 2007.

Trading volumes were low in Abu Dhabi, with some 110m shares changing hands.

Oil prices dipped further to $48 per barrel (off 2.96 percent). Abu Dhabi is more dependent on oil revenues than the other emirates. According to Bank of America Merrill Lynch, global refinery utilization rates may need to fall to 81 percent down from 84 percent in order to eliminate petroleum product oversupply.

DRAKE AND SCULL JUMPS 6.25 PERCENT IN LACKLUSTRE TRADING:: Investors continued to stay on the sidelines in Dubai due to uncertainties of the outcome of the G-20 summit in London. The Dubai Financial Market General Index (DFMGI) declined by 0.27 percent to 1,564.19 points. The latest gains at budget carrier Air Arabia were wiped out completely today, closing 9.43 percent lower at Dh0.96. Construction contractor Drake and Scull (DSI) bucked the trend by gaining 6.25 percent. Listed since March 15, Dubai-based DSI is still hiring staff, while most of its competitors are laying off people as a result of the credit crunch.

DOHA MARKET UNCHANGED: The Doha Securities Market lost an insignificant 0.04 percent and closed at 4,885.12 points, still below the critical resistance line at 5,000 points. Although the advance/decline-ratio stood at 21:6 (11 stocks remained unchanged), gains of First Finance (up 4.89 percent), Al-Khaleej Insurance (2.54 percent higher) and National Cement (gaining 2.51 percent) could not lift the entire market. Other insurance firms such as Doha Insurance and Qatar Insurance declined by 2.35 percent and 1.58 percent respectively.