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Thursday, 2 March 2017

MIDEAST STOCKS-Gulf mostly edges up, Dubai hit by ex-dividend stocks | Reuters

MIDEAST STOCKS-Gulf mostly edges up, Dubai hit by ex-dividend stocks | Reuters:

"Most stock markets in the Gulf edged up early on Thursday because of a strong tone in global bourses, but Dubai's index was dragged down by two major stocks going ex-dividend.

Dubai sank 1.1 percent. Dubai Islamic Bank plunged 8.6 percent and GFH Financial slid 11.0 percent; both stocks went ex-dividend on Thursday. The scope of the falls was larger than normal for ex-dividend stocks and suggested a lack of institutional buying support.

However, falling stocks in Dubai only narrowly outnumbered gainers by 13 to 10."



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