DUBAI Feb 21 Gulf stock markets may have a weak
tone on Tuesday after profit-taking pushed most of them lower on
the previous day, and in the absence of any fresh, positive cues
Global equities and oil prices moved little overnight, with
U.S. markets closed for a holiday.
The Dubai index's 1.2 percent drop to 3,604 points
on Monday brought it below technical support on the mid-February
low of 3,608 points; another straight close below that level
would trigger a double top formed by the January and February
peaks and pointing down to around 3,500 points.
Qatar outperformed most of the region on Monday,
closing nearly flat, and this pattern could continue as
investors move into high-dividend stocks before the annual
Fourth-quarter net profit at Qatar Gas Transport Co
(Nakilat), one of the world's largest shippers of
liquefied natural gas, fell to 207 million riyals ($57 million)
from 226 million riyals a year earlier; the result came in under
QNB Financial Services' prediction of 241 million riyals. The
company's board recommended distributing a cash dividend of 1
riyal per share, down from 1.25 riyals for 2015.
(Reporting by Andrew Torchia)