DUBAI, March 6 (Reuters) - Gulf stock markets were mixed onTuesday as some markets such as Saudi and Qatar took heart froma rise in global stocks and oil prices, while Abu Dhabi's stockmarket dropped 2 percent as First Abu Dhabi Bankwent ex-dividend.
Qatar stock market rose 0.7 percent after slumping toits lowest level in more than two months on Monday when two bigQatari companies went ex-dividend.
Saudi stocks jumped 0.6 percent, buoyed by telecomand financial stocks. Saudi Arabia Mining Co rose1.81 percent after sharply falling this week as the majorityowner of the world's largest fully integrated aluminium facilitywas weighed down by news about planned rise in U.S. tariffs.
"Global markets have improved and the Saudi market isalready balanced, so people are optimistic and the bet is stillon leading stocks and banks," said Mazen Al Sudairi, head ofresearch at Rajhi Capital.
U.S. stocks rose after four days of decline and Asian sharesalso regained ground on Tuesday after U.S. President DonaldTrump faced growing pressure from political allies to pull backfrom proposed steel and aluminium tariffs.
Crude prices held firm, underpinned by robust demandforecasts and prospects for informal contacts sought by OPECwith U.S. shale oil producers at a key industry meeting inHouston this week.
In Abu Dhabi, the index was weighed down by financials asFirst Abu Dhabi Bank dropped 7.3 percent as the stock wentex-dividend. FAB announced a cash dividend of 0.7 dirhams andwas supposed to go ex-dividend on Tuesday.
On the ex-dividend date, the exchange reduces the stockprice by the amount of the dividend to account for the fact thatnew investors are not eligible to receive dividends and aretherefore unwilling to pay a premium.
Dubai stocks were down 0.25 percent, weighed downby Aramex which dropped 2.9 percent, even thoughstocks in some of the consumer companies were up.(Reporting by Saeed Azhar and Marwa Rashad; additionalreporting by Stanley Carvalho; Editing by Tom Arnold)
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