|01-11-2015, 02:10 PM||#1|
Most Gulf markets trade higher in early hours
Most Gulf markets managed to turn higher in opening hours Sunday except for Qatar where major petrochemical producers plummeted as Doha bourse tumbled after Industries Qatar announced weak dividend.
Qatar`s index plunged sharply by 2.1 percent, pressured lower by Industries Qatar that fell by 9.7 percent at opening.
The dividend cut that Doha bourse reported was announced last Thursday by Industries Qatar board which recommended a 2014 dividend of 7 riyal per share; down from 11 riyals in 2013 and below the market projections of 11.13 riyals.
Dubai`s bourse edged up by 0.6 percent with the region`s major developer; Emaar Properties, Dubai`s largest listed constructors, adding 1.7 percent while rivals Union Properties and Deyaar added 3.4 and 3.6 percent respectively.
Abu Dhabi`s index inched up by 0.1 percent, Kuwait added as well 0.6 percent and Oman`s bourse rose a slim 0.3 percent.
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