Mideast Stocks: Most Gulf markets fall on trade war fears
Saudi Arabia's benchmark index eased 0.3%, hit by a 1.3% fall in oil giant Saudi Aramco, extending losses from the previous session when the firm reported a drop in annual profit and signalled it will slash its dividend payouts by nearly a third this year to $85.4 billion.
The significantly reduced dividends could also result in fewer funds for the kingdom - which directly owns 81.5% of Aramco - and is in a race to complete several large-scale projects and potentially faces a wider budget deficit. Elsewhere, Dallah Healthcare Company slid , despite reporting a rise in annual profit.
Dubai's main share index finished 0.8% lower, weighed down by a 3.7% slide in top lender Emirates NBD , as the bank traded ex-dividend. Among other losers, blue-chip developer Emaar Properties lost 1.1% and toll operator Salik was down 0.6%.
In Abu Dhabi, the index closed 0.4% lower, with petrochemical firm Borouge tumbling 6%, a day after he announcement of its merger with Borealis to form the world's fourth largest polyolefins firm by production capacity.
The Qatari index, however, gained 0.2%, helped by a 2.1% rise in Qatar Gas Transport.
Outside the Gulf, Egypt's blue-chip index added 0.4%, with Commercial International Bank rising 1.6%.
SAUDI ARABIA down 0.3% to 11,899
Abu Dhabi fell 0.4% to 9,557
Dubai lost 0.8% to 5,313
QATAR added 0.2% to 10,492
EGYPT up 0.4% to 30,876
BAHRAIN was down 0.2% to 1,976
OMAN was flat at 4,411
KUWAIT dropped 0.5% to 8,719
(Reporting by Ateeq Shariff in Bengaluru; Editing by Tasim Zahid)
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