UAE markets fall as stocks hit ex-dividend date

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UAE markets fall in early trading as companies reaching ex-dividend dates drag down the two bourses.

Budget carrier Air Arabia falls 9 percent to its lowest level since December 31. The firm will pay a AED0.07 cash dividend to investors that held shares until March 25.

Dubai's measure drops 1.1 percent to 1,881 points, a near-three-week low.

Abu Dhabi's Etisalat sheds 3.5 percent, having also reached its ex-dividend date.

The emirate's index retreats 0.8 percent to 2,975 points.

Elsewhere, Kuwait's measure extends losses as investors sell small-caps ahead of a deadline for companies to post earnings, which may result in stocks being suspended from trading.

The index dips 0.6 percent to 6,647 points, a fresh two-week low.

Qatar's bourse is little changed at 8,581 points.

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