Mideast Stocks: Dubai leads most of Gulf lower; Abu Dhabi edges up

Saudi Arabia's benchmark index fell 0.3%

  
A sign shows the way to the Abu Dhabi Securities Exchange in Abu Dhabi December 15, 2009. Abu Dhabi threw its flashy but debt-laden neighbour Dubai a $10 billion lifeline to head off a bond default, cheering Gulf and global markets on Monday but raising questions about the undisclosed terms.REUTERS/Ahmed Jadallah

A sign shows the way to the Abu Dhabi Securities Exchange in Abu Dhabi December 15, 2009. Abu Dhabi threw its flashy but debt-laden neighbour Dubai a $10 billion lifeline to head off a bond default, cheering Gulf and global markets on Monday but raising questions about the undisclosed terms.REUTERS/Ahmed Jadallah

REUTERS/Ahmed Jadallah

Most major bourses in the Gulf ended lower on Thursday, driven down by losses in financial shares, with Dubai shares falling the most, although the Abu Dhabi index bucked the trend.

Saudi Arabia's benchmark index fell 0.3%, with National Commercial Bank shedding 1.4% and Al Rajhi Bank losing 0.3%.

Saudi British Bank (SABB) retreated 1.6%

SABB on Tuesday had reported a net loss widening to 6.87 billion riyals ($1.83 billion) in the quarter compared with a loss of 196 million riyals a year earlier, due to an impairment in goodwill worth 7.42 billion riyals.

Dubai's main share index dropped 0.9%, dragged down by a 2.2% fall in Emirates NBD Bank and a 1.7% drop in Emaar Properties.

The Abu Dhabi index edged up 0.1%, helped by a 0.5% rise in the country's largest lender First Abu Dhabi Bank.

Abu Dhabi raised $5 billion through a three-tranche bond offering on Tuesday, the oil-rich Gulf emirate's third foray into the international debt markets this year to prop up its finances after a fall in crude prices.

In Qatar, the index eased 0.2%, hurt by a 1.5% fall in petrochemical firm Industries Qatar and a 0.8% drop in Qatar Gas Transport.

Outside the Gulf, Egypt's blue-chip index added 0.1%, bolstered by a 0.5% gain in top lender Commercial International Bank.

SAUDI ARABIA lost 0.3% to 7,934 points

ABU DHABI  added 0.1% to 4,535 points

DUBAI fell 0.9% to 2,269 points

QATAR eased 0.2% to 9,883 points

EGYPT up 0.1% to 11,462 points

BAHRAIN rose 0.6% to 1,381 points

OMAN slipped 0.3% to 3,737 points

KUWAIT was up 0.4% at 5,853 points

(Reporting by Ateeq Shariff in Bengaluru Editing by Mark Heinrich) ((AteeqUr.Shariff@thomsonreuters.com; +918061822788;))

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