Posted on March 03, 2018

Major Middle Eastern stock markets mostly fell on Thursday after oil prices slipped more than two percent overnight and global bourses dropped, although buying by local institutions helped Qatar rebound slightly from its steep fall on Wednesday.

The Qatari index, which had plunged 3.1 percent on Wednesday as several stocks went ex-dividend, recovered 0.9 percent. Exchange data showed foreigners were net sellers by a ratio of three to two. Industrial firm Aamal surged 3.9 percent after reporting an eight percent gain in annual net profit, while Vodafone Qatar climbed for a third straight day after announcing strong earnings and positive licensing news. It added 2.3 percent and was the market's most heavily traded stock. The ex-dividend stocks which led Wednesday's plunge were mixed. Barwa Real Estate rose 0.9 percent but Islamic bank Masraf Al Rayan edged down 0.1 percent and Al Khaliji Bank  was up 0.3 percent.

source: Reuters News