MIDEAST STOCKS-Most Middle Eastern stocks gain; Qatar bucks trend - Reuters

    * Aramco snaps five-session losing streak
    * Union Properties soars on project financing
    * DP World jumps on going private
    * Qatar Petroleum units weigh on index

    By Maqsood Alam
    Feb 17 (Reuters) - Most Middle Eastern markets closed higher on Monday, with
Saudi Arabia gaining on support from Saudi Aramco, while Qatar bucked the trend
on news it had delayed choosing partners for the world's largest liquefied
natural gas project.
    Saudi Arabia's benchmark index was up 0.5% supported by state-owned
Saudi Aramco, which was up 0.9% at 33.1 riyals ($8.83), snapping a
five-day losing streak.
    Saudi British Bank rose 2.1%, while Al Rjahi Bank edged
up 0.3%.
    Qatar's index was down 0.4% for its seventh straight session of
declines. State-run Qatar Petroleum's units Mesaieed Petrochemicals
and Industries Qatar weighed most on the index, falling 4.6% and 1.4%,
respectively.
    Reuters reported, citing sources, that Qatar has delayed choosing Western
partners for the world's largest liquefied natural gas project by several
months.
    Last year, Qatar Petroleum's chief executive officer told Reuters that Qatar
had shortlisted international oil firms for a stake in its expanded North Field
megaproject.
    However, the fall was cushioned by Qatar Electricity and Water,
which ended 1.3% higher. The firm reported an annual profit of 1.41 billion
riyals ($387.36 million), down from 1.54 billion riyals a year earlier.
    Dubai's index added 0.5%. Emaar Properties and its unit
Emaar Malls were up 0.8% and 2.4%, respectively.
    Union Properties soared 14.7%, its biggest intra-day surge since
December 2014. The company said on Sunday that a financing process of about 200
million dirhams ($54.45 million) for expansion of the Autodrome project was
nearing its completion.
    Nasdaq Dubai-listed DP World leapt 10% after announcing that it
would delist and return to full state ownership in a deal valuing the company at
$13.9 billion.
    In Egypt, the blue-chip index was up 0.5% with its biggest lender
Commercial International Bank Egypt rising 0.6%.
    The Abu Dhabi index gained 0.4% as the country's largest lender First
Abu Dhabi Bank edged up 0.3% and the telecom service provider Etisalat
 added 0.4%.
        
 SAUDI ARABIA          rose 0.5% to 7,873 points
 ABU DHABI            gained 0.4% to 5,082 points
 DUBAI                  rose 0.5% to 2,749 points
 QATAR                lost 0.4% to 9,709 points
 EGYPT                  was up 0.5% to 13,800 points
 BAHRAIN              edged up 0.1% to 1,663 points
 OMAN                 gained 0.1% to 4,165 points
 KUWAIT               rose 0.4% to 6,874 points
 
 ($1 = 3.6729 UAE dirham)
 ($1 = 3.7505 riyals)
 ($1 = 3.6400 Qatar riyals)

 (Reporting by Maqsood Alam in Bengaluru; Editing by Shounak Dasgupta)
  

Our Standards:The Thomson Reuters Trust Principles.

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MIDEAST STOCKS-Most Middle Eastern stocks gain; Qatar bucks trend - Reuters
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