MIDEAST STOCKS-Gulf mixed as petchems aid Saudi, ex-div Emaar drags down Dubai | ZAWYA MENA Edition

MIDEAST STOCKS-Gulf mixed as petchems aid Saudi, ex-div Emaar drags down Dubai | ZAWYA MENA Edition:

"Gulf stock markets were mixed in early trade on Tuesday as petrochemical stocks supported Saudi Arabia while blue chip Emaar Properties dragged down Dubai as the stock went ex-dividend. The Saudi index climbed 0.3 percent in the first 45 minutes as 10 of the 14 petrochemical stocks rose on the back of strong oil prices. Saudi Kayan 2350.SE rose 1.3 percent. The company reported a fourth-quarter net loss of 220.3 million riyals ($58.7 million) versus a profit of 91.6 million riyals a year ago, but the loss was much smaller than the 417 million riyal loss forecast by NCB Capital. SICO Bahrain had predicted a 90 million riyal loss. "



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