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Middle East Stocks Mostly Decline, Qatar Hits Lowest Level Since October

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MidEast shares mostly fell, with Qatar touched the lowest level since October.

In company news, Industries Qatar slipped to a six-month low after the shares went ex-dividend.

First Abu Dhabi Bank went ex-dividend. It had declared a cash dividend of 0.74 dirhams last

month.

Union National Bank called for a shareholder meeting to approve the proposed merger between with Abu Dhabi

Commercial Bank.

Saudi Pharmaceutical Industries and Medical Appliances reported a drop in full-year net profit to 100.8 million riyals ($26.9 million) from 148.5 million riyals a year earlier.

Saudi Arabia's main index dipped 0.3% to 8,534 points, Dubai fell 0.4% to 2,626 points, Qatar dropped 1.3% to 9,884 points, Abu Dhabi slumped 2.2% to 4,977 points, Egypt shed 0.6% to 14,643 points, Kuwait added 0.4% to 5,596 points, Oman eased 0.3% to 4,153 points and Bahrain slipped 0.3% to 1,411 points

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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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