Most stock markets in the Gulf were subdued on Thursday, extending losses from the previous session after a weak economic forecast for the region.
Economic growth in five countries in the six-member Gulf Cooperation Council (GCC) is forecast to be weaker than expected three months earlier on lower prices of oil, the region's main export, according to a Reuters poll of economists.
Only Bahrain's growth rate was upgraded to 3.0% from 2.7% in the previous poll. Average growth across the six GCC economies is forecast to be 1.5% this year, slightly more than half the 2.8% forecast in April.
In Abu Dhabi, the index (.FTFADGI) dropped 0.4%, hit by a 1.5% fall in the country's biggest lender First Abu Dhabi Bank (FAB.AD) ahead of an earnings announcement.
Dubai's main share index (.DFMGI) finished flat towards negative territory a day after snapping eight sessions of gains.
Saudi Arabia's benchmark index (.TASI) was flat.
However, the Qatari benchmark (.QSI) bucked the trend to close 0.7% higher, with Qatar Islamic Bank (QISB.QA) gaing 0.7%.
The Qatari stock market extended its gains supported by a strong banking sector, said Ahmed Negm, Head of Market Research MENA at XS.com.
"The main index could also maintain its gains if natural gas prices continue to improve."
** Markets in Kuwait, Oman and Egypt were closed for a public holiday
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