**PLEASE NOTE THIS IS A PRESENTED MARKET REPORT**

Thomson Reuters Journalist Melanie Ralph says Saudi Arabia's stock market rose today as it traded for the first time since King Salman succeeded his brother Abdullah, who died on Friday.

SHOWS: LONDON, ENGLAND, UK (JANUARY 26, 2015) (REUTERS - ACCESS ALL)

1. THOMSON REUTERS, JOURNALIST, MELANIE RALPH, SAYING:

Saudi Arabia's stock market rose today as it traded for the first time since King Salman succeeded his brother Abdullah, who died on Friday.

Other bourses in the region were neutral or negative.

Investors reacted positively to the smooth succession and the kingdom's main index added 0.7 percent as most stocks closed higher.

Food makers Savola Group and Almarai were among the main supports.

A major drag on the index today was telecommunications firm Etihad Etisalat, which tumbled its daily 10 percent limit for the second session in a row -- extending losses after its fourth-quarter results widely missed estimates last week.

Other markets in the region were weak or flat as the price of Brent crude briefly dipped below $48 per barrel.

Dubai's stock index tumbled 3.6 percent in a broad sell-off. Among the most traded stocks, Dubai Islamic Bank lost 5.7 percent and Emaar Properties was down 5.3 percent.

Market players said oil's renewed weakness may have dampened retail investors' sentiment, even though Dubai's diversified economy is relatively insulated from the negative effects of cheap oil.

Some analysts say the market is likely to remain trendless as long as oil's volatility persists.

Abu Dhabi's index fell 0.8 percent and shares in Abu Dhabi Islamic Bank tumbled their daily 10 percent limit.

On Sunday, ADIB reported results that were broadly in line with estimates and proposed a nearly flat dividend payout.

But investors may have hoped for a positive surprise as the stock had gone up 14 percent this month.

Markets in Qatar, Kuwait and Oman moved very little, while Egypt pulled back 0.7 percent from a 6-1/2-year high at the end of last week.

That's your Middle Eastern Market Wrap.