DUBAI Feb 8 A fresh pull-back in oil prices and
waning risk appetite towards equity markets in general may drag
Gulf stock markets lower on Wednesday.
Brent oil futures lost 1.2 percent on Tuesday and
have continued to fall in Asian trade on Wednesday; they were at
$54.66 a barrel at 0524 GMT. MSCI's broadest index of
Asia-Pacific shares outside Japan is down 0.3
Dubai's index, last at 3,719 points, has risen
strongly in the past two days but faces major technical
resistance at 3,737-38 points, the peaks in January.
In Qatar, Barwa Real Estate may attract some
interest after swinging to a fourth-quarter net profit of about
100 million riyals ($27.5 million) in the three months ended
Dec. 31 versus a loss of 518 million riyals a year earlier. The
board recommended a cash dividend of 2.5 riyals per share,
higher than the 2.2 riyals proposed for 2015.
United Development reported a fourth-quarter net
profit of 171.4 million riyals, an 81 percent jump from the
prior-year period. But the board recommended a cash dividend for
the full year of 1.25 riyals, lower than the 1.5 riyals for
(Reporting by Celine Aswad; Editing by Andrew Torchia)