March 5, 2018 / 2:34 PM / a year ago

MIDEAST STOCKS-Qatar stocks fall, other Gulf markets subdued

DUBAI, March 5 (Reuters) - Qatar’s main stock index slumped to its lowest level in more than two months on Monday as two big Qatari companies went ex-dividend.

The Gulf’s markets had earlier opened on weak footing, taking their cue from Asia where investors exited shares amid concerns about a global trade war that could harm the outlook for growth.

Qatar shares closed 3.2 percent after two of its heavyweight stocks went ex-dividend.

Industries Qatar dived 7.8 percent and telecom firm Ooredoo dropped 4.1 percent.

In its first trading session, Qatar’s first listed exchange traded fund closed 1.6 percent down.

Qatari investment firm Amwal raised funds for the ETF, designed to track the Qatar Exchange Index, which screens for the top 20 listed companies in Qatar by market capitalisation and liquidity.

Other markets were subdued. Saudi stocks were 0.03 percent lower, weighed down by telecommunications services and healthcare stocks.

Banque Saudi Fransi also finished 1.9 percent lower after missing forecasts for fourth-quarter profit in its results published on Sunday.

The Dubai index was down 0.2 percent, but the Abu Dhabi index was 0.1 percent up.

Reporting by Tom Arnold. Editing by Jane Merriman

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