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Thursday, 9 March 2017

MIDEAST STOCKS-Oil depresses Gulf, Abu Dhabi hit by ex-dividend FGB, NBAD | Reuters

MIDEAST STOCKS-Oil depresses Gulf, Abu Dhabi hit by ex-dividend FGB, NBAD | Reuters:

"Gulf stock markets were pulled down early on Thursday by a 5 percent overnight slide in oil prices, while Abu Dhabi was hit particularly hard as heavyweights First Gulf Bank and National Bank of Abu Dhabi traded ex-dividend. Abu Dhabi's stock index dropped 2.9 percent as First Gulf Bank tumbled 9.0 percent and National Bank of Abu Dhabi lost 5.6 percent. The pair are due to merge on April 1. Dubai's index fell 0.1 percent in very thin trade with tourism-sensitive companies trading lower; theme parks operator DXB Entertainments was down 1.9 percent and Emaar Malls Group fell 0.8 percent."



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