Mideast Stocks: Most Gulf markets ease on geopolitical tensions; Dubai gains
Most major stock markets in the Gulf were subdued in early trade on Thursday on simmering tensions in the region, although the Dubai index bucked the trend to trade higher.
Maersk said explosions nearby forced two ships operated by its U.S. subsidiary and carrying U.S. military supplies to turn around when they were transiting the Bab al-Mandab Strait off Yemen, accompanied by the U.S. Navy.
On Wednesday, the U.S. military carried out more strikes in Yemen early on Wednesday, destroying two Houthi anti-ship missiles that were aimed at the Red Sea and were preparing to launch, the U.S. military said.
Saudi Arabia's benchmark index fell 0.2%, weighed down by a 9.9% slide in media giant MBC Group.
Elsewhere, oil giant Saudi Aramco eased 0.2%.
However, Saudi Arabian Amiantit advanced 6.3%, following the Capital Market Authority's nod to increase capital through a rights issue.
In Qatar, the index dropped 0.2%, with Islamic lender Masraf Al Rayan losing 2.3%.
The Abu Dhabi index was down 0.1%.
Dubai's main share index added 0.6%, boosted by a 5.1% jump in top lender Emirates NBD after reporting an increase in fourth-quarter net profit.
The bank also doubled its annual dividend proposal to 120 fils per share compared to 60 fils for 2022.
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