DUBAI Jan 5 Stock markets in Dubai and Qatar,
where foreign funds are most active, may continue climbing on
Thursday as global markets extend their gains and after oil
MSCI's broadest index of Asia-Pacific stocks outside Japan
is up 0.6 percent and U.S. shares ended higher
on Wednesday. Brent oil futures rose 1.8 percent to
settle at $56.46 a barrel overnight.
Stock indexes in Dubai and Qatar are each up
a little over 2 percent so far this year, in line with emerging
markets. Dubai's index, last at 3,617 points, faces near-term
technical resistance at the mid-December peak of 3,659 points.
Saudi Arabia's index has been vulnerable to profit-
taking over the last two sessions as investors cashed out of
stocks trading above what analysts estimate to be fair value.
But petrochemical shares, which were the main drag on
Wednesday, may attract some interest after oil prices bounced
Riyad Bank may come under some pressure after it
proposed paying a cash dividend of 0.30 riyal per share for the
second half of 2016, down from 0.35 riyal for the corresponding
period of 2015.
In Kuwait, logistics firm Agility may attract some
interest after a senior executive told Reuters that it expects
profit and revenue in its logistics business to grow faster in
2017 than it did in the previous year.
(Reporting by Celine Aswad; Editing by Andrew Torchia)