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Tuesday, 7 March 2017

MIDEAST STOCKS-Gulf mostly down as Emaar hits Dubai, ex-dividends hurt Qatar | Reuters

MIDEAST STOCKS-Gulf mostly down as Emaar hits Dubai, ex-dividends hurt Qatar | Reuters:

"Most Gulf stock markets fell on Tuesday as blue chip Emaar Properties pulled down Dubai and stocks going ex-dividend hit Qatar, although Saudi Arabia closed marginally higher.

Dubai's index slipped 1.5 percent as Emaar lost 3.8 percent after it proposed a cash dividend of 15 percent for 2016, unchanged from the previous year despite a 28 percent rise in annual net profit.

Loss-making construction firm Arabtec dropped 2.1 percent, partially erasing Monday's 6.4 percent jump. But courier Aramex surged 2.7 percent."



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