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MidEast Shares Mixed in Thin Volume

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Middle East stocks were mixed, with volumes shrinking, suggesting some investors were pulling out.

In company news, GFH Financial said it signed a 100 million pound ($144 million) deal to become an anchor partner in a central London property development. It said this would reflect positively on its financial results in Q1 or Q2.

Abu Dhabi Commercial Bank saw its price goal raised at Citigroup to 8.2 dirhams from 7.5 dirhams.

Talaat Mostafa declared cash dividends worth a combined 0.145 Egyptian pound per share.

Telecom Egypt rose after a ministry of communications source told Reuters Vodafone Egypt owed Telecom Egypt 4.5 billion Egyptian pounds ($506.8 million) in deferred profit payments. Payment would be made in two installments, with the first in April, the story said.

Saudi Arabia's main index edged up 0.6% to 6,216 points, Egypt dropped 1.1% to 7,485 points, Dubai jumped 1.5% to 3,325 points, Abu Dhabi rose 1.8% to 4,395 points, Qatar slipped 0.04% to 10,313 points, Kuwait eased 0.2% to 5,257 points, Oman slumped 1.3% to 5,467 points and Bahrain declined 1.9% to 1,140 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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