PHOTO
* Trading volumes across markets very low
* Emaar Malls down after confirming bid to acquire Souq.com
* Abu Dhabi, Qatar close near flat
* Egypt's Pioneers down on decision not to pay dividend
* Arabia Cotton Ginning outperforms on strong cotton exports
By Celine Aswad
DUBAI, March 27 (Reuters) - Most Middle Eastern stock markets fell in thin trade on Monday, in line with global losses, with Egypt hit particularly hard.
The Saudi stock index
.TASI
edged down 0.3 percent in the lowest volume since September; declining shares outnumbered advancing ones by 115 to 31. Most petrochemical producers fell, with Saudi Kayan Petrochemical
2350.SE
losing 0.7 percent.
The largest dairy producer, Almarai
2280.SE
, fell 0.7 percent and United Wire Factories
1301.SE
dropped 2.0 percent as they both went ex-dividend.
In Dubai, Emaar Malls
EMAA.DU
fell 2.0 percent to 2.49 dirhams, a 13-month low, after the company confirmed it was making an $800 million bid to acquire e-commerce operator Souq.com.
It had already dropped 0.8 percent on Sunday in response to a local media report revealing the bid, which could put Emaar Malls in a bidding war with Amazon.com
AMZN.O
. Sources said last week that the U.S. firm had agreed in principle to buy Souq.com.
Twenty other Dubai stocks also closed lower, dragging the index
.DFMGI
down 0.4 percent. Builder Arabtec
ARTC.DU
, the most actively traded share on Monday, fell 1.1 percent.
Abu Dhabi's index
.ADI
recovered from losses earlier in the day to close flat. RAK Properties
RPRO.AD
slumped 9.9 percent as it went ex-dividend; a Dubai trader said many retail investors dumped the stock after obtaining the dividend payout, and there was little institutional support for the stock.
Large-cap Aldar Properties
ALDR.AD
helped mitigate losses by adding 0.8 percent.
In Qatar, the index
.QSI
added 0.2 percent with a little over four-fifths of traded shares closing higher. Vodafone Qatar
VFQS.QA
rose 2.1 percent.
In Egypt, the index
.EGX30
sank 1.1 percent with sell orders intensifying in the final hour. Pioneers Holding
PIOH.CA
fell 2.6 percent after its board decided not to distribute a cash dividend for 2016. On Sunday the investment firm reported 35 percent growth in full-year net profit.
Arabia Cotton Ginning
ACGC.CA
jumped 4.1 percent in unusually heavy trade after a local online news service, Alborsa News, quoted the director of the Cotton Egypt Association as saying the country's cotton exports unexpectedly rose 20 percent between mid-October and mid-March, thanks to higher demand and higher cotton prices.
MONDAY'S HIGHLIGHTS
SAUDI ARABIA
* The index
.TASI
edged down 0.3 percent to 6,852 points.
DUBAI
* The index
.DFMGI
fell 0.4 percent to 3,454 points.
ABU DHABI
* The index
.ADI
was flat at 4,465 points.
QATAR
* The index
.QSI
rose 0.2 percent to 10,429 points.
KUWAIT
* The index
.KWSE
declined 0.1 percent to 7,032 points.
EGYPT
* The index
.EGX30
lost 1.1 percent to 12,970 points.
OMAN
* The index
.MSI
fell 0.9 percent to 5,604 points.
BAHRAIN
* The index
.BAX
rose 0.3 percent to 1,383 points. (Editing by Andrew Torchia and Gareth Jones) ((andrew.torchia@thomsonreuters.com)(+9715 6681 7277)(Reuters Messaging: andrew.torchia.thomsonreuters.com@reuters.net))
* Emaar Malls down after confirming bid to acquire Souq.com
* Abu Dhabi, Qatar close near flat
* Egypt's Pioneers down on decision not to pay dividend
* Arabia Cotton Ginning outperforms on strong cotton exports
By Celine Aswad
DUBAI, March 27 (Reuters) - Most Middle Eastern stock markets fell in thin trade on Monday, in line with global losses, with Egypt hit particularly hard.
The Saudi stock index
The largest dairy producer, Almarai
In Dubai, Emaar Malls
It had already dropped 0.8 percent on Sunday in response to a local media report revealing the bid, which could put Emaar Malls in a bidding war with Amazon.com
Twenty other Dubai stocks also closed lower, dragging the index
Abu Dhabi's index
Large-cap Aldar Properties
In Qatar, the index
In Egypt, the index
Arabia Cotton Ginning
MONDAY'S HIGHLIGHTS
SAUDI ARABIA
* The index
DUBAI
* The index
ABU DHABI
* The index
QATAR
* The index
KUWAIT
* The index
EGYPT
* The index
OMAN
* The index
BAHRAIN
* The index