Mideast Stocks: Ex-dividend stocks hit Dubai as Gulf markets mixed

Sa Sa International Holdings

20/04/2021 08:56

April 20 (Reuters) - Share markets in the Gulf were mixed on
Tuesday, with the Dubai index hit by stocks trading ex-dividend.
    Dubai's main share index  .DFMGI  fell 0.7%, weighed down by
a 3.1% drop in blue-chip developer Emaar Properties  EMAR.DU 
and a 3.7% decline in Dubai Investments  DINV.DU  as both traded
ex-dividend.
    However, Emirates NBD (ENBD)  ENBD.DU  rose 0.4%, on track
to extend gains from the previous session.
    ENBD, Dubai's biggest lender, reported on Tuesday a 12% rise
in first-quarter net profit, citing improving economic
conditions after the fallout from the COVID-19 pandemic and a
sharp drop in impairments.  urn:newsml:reuters.com:*:nL8N2MD0K7
    The bank said expansion into Turkey, where it acquired
DenizBank in 2019, has helped diversify its earnings, with
DenizBank contributing 642 million dirhams ($174.80 million) or
28% of the group's net profit.
    In Abu Dhabi, the index  .ADI  gained 0.7%, with aquaculture
firm International Holding  IHC.AD  jumping about 6%.
    Recently, International Holding has been the main driving
force for the index as the firm has expanded rapidly across
major business sectors, boosting profit and positioning it for
long-term growth.
    The United Arab Emirates' central bank said on Tuesday it
has extended until mid-2022 stimulus measures launched last year
to mitigate the impact of the coronavirus crisis on the economy.
 urn:newsml:reuters.com:*:nD5N2FK01J
    The Qatari index  .QSI  slipped 0.4%, hit by a 1.2% fall in
petrochemical maker Industries Qatar  IQCD.QA .
    Saudi Arabia's benchmark index  .TASI  was flat as gains in
financial shares were offset by losses at energy firms.
    The kingdom's crude oil exports fell to their lowest in
eight months in February, the Joint Organisations Data
Initiative (JODI) said on Monday, as the world's biggest oil
exporter voluntarily capped output to support oil prices.
 urn:newsml:reuters.com:*:nL8N2MC3M3


($1 = 3.6728 UAE dirham)

 (Reporting by Ateeq Shariff in Bengaluru; Editing by Susan
Fenton)
 ((AteeqUr.Shariff@thomsonreuters.com; +918061822788;))