MIDEAST STOCKS-Air Arabia lifts Dubai; Qatar declines as top lender trades ex-div | Nasdaq:
Dubai's benchmark stock index rose on Monday, led by gains in industrial and financial firms, while Qatar slipped on weakness in shares of the country's top lender, which traded ex-dividend.
Dubai's main share index gained 0.6% as Air Arabia leapt 6.7%, the biggest intraday gain since July 2014.
On Sunday, the budget airliner reported an annual profit of 990.2 million dirhams ($269.60 million), compared with a loss of 609.5 million dirhams a year ago. It also proposed a dividend of 9 fils per share.
Dubai Islamic Bank was 0.9% higher ahead of the release of its fiscal 2019 earnings on Feb. 12.
In Qatar, the index lost 0.8%, extending losses to a third session. The Gulf's largest lender Qatar National Bank sank 4.3% as its shares traded ex-dividend, while Industries Qatar slipped 0.4%.
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