Banks drag Oman from 22-month high; UAE markets mixed

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Oman's index falls from Tuesday's 22-month high as bluechip National Bank of Oman (NBO) drops after reaching its ex-dividend date.

Shares in NBO are down 6.7 percent. The company's shareholders approved a cash dividend of 17.5 percent at its annual meeting on Tuesday, according to a bourse statement.

Profit-taking in other stocks also weighs. Bank Dhofar declines 3.9 percent and Raysut Cement dips 3 percent.

The index falls 1.2 percent to 6,101 points, trimming 2013 gains to 5.9 percent.

Elsewhere, UAE markets are mixed in thin trading as investors await fresh cues, which may come in the form of first-quarter earnings.

Dubai's measure slips 0.3 percent to 1,860 points, while Abu Dhabi's benchmark ticks up 0.1 percent to 3,019 points.

Kuwait's bourse climbs 0.3 percent to 6,795 points and Qatar edges up 0.07 percent to 8,579 points.

Qatar Meat and Livestock (Widam Food) gains 4.8 percent after the company posted a profit of OMR75m (US$20.60m) for 2012, up from OMR58m in the previous year. The board proposed a dividend of 40 percent, a bourse statement said.

Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Blood on the bourse floor

Blood on the bourse floor

Arabtec’s share price collapse was the catalyst for a huge sell...

Taking stock

Taking stock

Gulf stock markets have seen a dearth of IPOs since the global...

Steering clear of the stock markets

Steering clear of the stock markets

Listing was all the rage three years ago, but IPOs have since...

Most Discussed
  • 12
    Has Narendra Modi already lost the plot?

    Modi was quiet all along and did not utter a word regarding the attacks on minorities and their institutions. It took Obama's address to him to atleast... more

    Saturday, 28 March 2015 2:25 AM - Ali
  • 11
    Nakheel PR: The toughest job in Dubai?

    On service charges.

    We were overcharged for years by Nakheel so that those loans could be paid back.

    The dramatic cuts have come to nothing... more

    Friday, 27 March 2015 7:32 PM - Pondersome George
  • 6
    Drunk passenger who slapped air stewardess jailed in Dubai

    Its high time airlines ban alcoholic drinks on board or limit it to just one drink. There are many passengers who love the free alcohol and keep drinking... more

    Saturday, 28 March 2015 2:25 AM - Azk