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Middle East Stocks Mostly Flat to Lower, Qatar Hits Three-Month Low


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MidEast shares were mostly flat to lower, with Qatar touching a three-month low but Saudi shares rising.

In company news, Industries Qatar said annual net profit climbed 52%.

Vodafone Qatar i t report ed its first ever annual profit, of 374 million riyal ($103 million) in 2018.

Saudi International Petrochemical said full-year net profit rose to 583 million riyals from 437.4 million riyals a year earlier.

Abdullah Abdul Mohsin Al Khodari Sons hit its lowest since its listing in 2010 after the company said its accumulated losses reached 1.11 bln riyals, representing 198.5% of its capital.

Arabtec said its annual profit rose and proposed a dividend of 5 fils per share for 2018, up from 2.05 fils a year ago.

Dana Gas will begin drilling this year in an area it says could become Egypt's next giant Mediterranean gas field, after seismic data pointed to reserves as large as 20 trillion cubic feet, Reuters reported.

Arabia Cotton Ginning said half-year standalone profit and revenue rose.

Orascom Investment Holding rose after comments by its chairman on possible investments in Venezuela and North Korea.

Saudi Arabia's main index firmed 0.2% to 8,617 points, Dubai added 0.3% to 2,493 points, Abu Dhabi was flat at 5,027 points, Qatar dropped 1.2% to 10,181 points, Egypt was unchanged at 14,949 points, Kuwait slipped 0.7% to 5,469 points, Oman eased 0.2% to 4,115 points and Bahrain slumped 1.1% to 1,374 points

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Stocks



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