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DUBAI, Feb 19 (Reuters) - Stock markets in the Gulf were mixed in early, quiet trade on Sunday with Saudi Arabia and Qatar outperforming because of support from the banking sector as United Arab Emirates bourses succumbed to profit-taking.
Nine of the 12 listed banks on Saudi Arabia's bourse
.TASI
gained in the first 45 minutes of trade, lifting the index 0.4 percent.
The largest Islamic lender, Al Rajhi Bank
1120.SE
, added 1.5 percent after its chief executive told Reuters that the bank gained market share in corporate banking last year for the first time in four years, and would continue to expand in that area by focusing on healthcare services, affordable housing, transportation and energy.
urn:newsml:reuters.com:*:nL8N1G048O
Most petrochemical shares were also bid higher, with National Industrialization
2060.SE
(Tasnee) up 1.2 percent.
Southern Cement
3050.SE
rose 0.4 percent after saying it would pay a cash dividend of 2.25 riyals per share for the second half of 2016, taking the full-year dividend to 4.75 riyals. That, however, is lower than the 6 riyals per share paid out for 2015.
In Qatar, the index
.QSI
rose 0.6 percent. The largest listed stock, Qatar National Bank
QNBK.QA
, was up 1.4 percent.
Dubai's index
.DFMGI
, however, pulled back 0.5 percent, dragged lower by a 2.9 percent fall by builder Arabtec
ARTC.DU
and a 1.8 decline in Drake & Scull
DSI.DU
Shuaa Capital
SHUA.DU
climbed 3.1 percent on optimism over the investment company's new strategy, which was announced this month and includes an acquisition.
urn:newsml:reuters.com:*:nD5N1FJ004
Large caps weighed on Abu Dhabi's index
.ADI
, which fell 0.3 percent. First Gulf Bank
FGB.AD
lost 1.1 percent and Etisalat
ETEL.AD
was down 0.5 percent.
(Reporting by Celine Aswad; Editing by Andrew Torchia and Jane Merriman) ((celine.aswad@thomsonreuters.com)(+9715 62247653)(Reuters Messaging: celine.aswad.thomsonreuters.com@reuters.net))
Nine of the 12 listed banks on Saudi Arabia's bourse
The largest Islamic lender, Al Rajhi Bank
Most petrochemical shares were also bid higher, with National Industrialization
Southern Cement
In Qatar, the index
Dubai's index
Shuaa Capital
Large caps weighed on Abu Dhabi's index
(Reporting by Celine Aswad; Editing by Andrew Torchia and Jane Merriman) ((celine.aswad@thomsonreuters.com)(+9715 62247653)(Reuters Messaging: celine.aswad.thomsonreuters.com@reuters.net))