Abu Dhabi shares rose at the open after Etisalat said it may reconsider plans to bid for Syria's third mobile license if the terms of the deal are changed, The Abu Dhabi-based telecoms giant had withdrawn from the bidding in March.
"If the terms of the Syrian mobile license are changed, Etisalat will analyse the new terms," the telecom operator said in a statement to the Abu Dhabi bourse.
The company had been one of five firms to have qualified for the license auction.
Shares of Etisalat rose 0.9 per cent to Dh10.70 at 11am, lifting the Abu Dhabi Securities Exchange General Index 0.3 per cent to 2704 points.
The Dubai Financial Market General Index was up 0.5 per cent to 1561.65 points.
Oil prices crept higher this morning after OPEC's President, Mohammad Aliabadi, yesterday said the group "will maintain its current output for now after being unable to reach a consensus of whether to raise production targets." Crude futures for July in London added 0.3 per cent to $118.27 a barrel.
Elsewhere in the region, Kuwait's index was unchanged at 6311.10. Bahrain's measure gained 0.6 per cent to 1347.34. Oman's benchmark was unchanged at 6002.27. Qatar's measure lost 0.2 per cent to 8164.42. The Saudi Tadawul was closed for the day.
