DUBAI, July 17 (Reuters) - Dubai's stock index rose above technical resistance in early trade on Monday while the rest of the region's bourses remained mostly sluggish.
The Dubai index gained 0.4 percent in modest trading volume to 3,586 points, eclipsing its April peak of 3,573 points. The next, strong resistance is at 3,737-9 points, the January and February peaks.
Saudi Arabia's index slipped 0.2 percent in the first 45 minutes, however, as Banque Saudi Fransi, which had added 1.4 percent on Sunday, tumbled 3.7 percent as it went ex-dividend.
Chemanol rose 2.5 percent after saying it had received $10 million from a bank guarantee after one of its marketers failed to meet contract obligations. The marketer intends to seek arbitration, Chemanol said. (Reporting by Andrew Torchia; Editing by Gareth Jones)
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