Feb 11 (Reuters) - All major Gulf stock markets slipped on Monday amid falling oil prices, with Qatar dropping sharply as its blue-chip banks slid.
Oil prices fell as drilling activity in the United States picked up and a refinery fire in the U.S. state of Illinois resulted in the shutdown of a large crude distillation unit.
Saudi Arabia’s stock market edged down 0.1 percent with Al Rajhi Bank declining 0.4 percent and Saudi British Bank shedding 0.4 percent.
In first week of February, foreigners bought 920.7 million riyals ($245.51 million) of Saudi stocks on a net basis, according to stock exchange data.
Al Yamamah Steel Industries Company lost 3.5 percent after it posted a first-quarter net loss of 30.2 million riyals compared with a profit of 6.7 million riyals a year earlier.
Qatar’s index fell 0.8 percent with the Middle East and North Africa’s largest lender Qatar National bank dropping 2.9 percent. The bank said that its shareholders approved a 10 for one stock split.
Industries Qatar and Vodafone Qatar fell 0.6 percent and 1.1 percent respectively, ahead of their board meetings to discuss full-year earnings.
The index slid 0.7 percent with its top-lender Emirates NBD decreasing 1.5 percent.
Dubai Investments lost 3.4 percent. The stock has been sliding for the last three sessions after saying it bought an additional 66 percent stake in Globalpharma, bringing its stake to 100 percent. On Monday the firm said the deal value remained confidential and its disclosure was subject to GlobalPharma’s consent.
The Abu Dhabi index lost 0.4 percent with the country’s largest lender First Abu Dhabi Bank shedding 0.7 percent.
Waha Capital was down 6.2 percent. It fell 10 percent on Thursday after its full-year net profit more than halved and dividend was cut by half. ($1 = 3.6729 UAE dirham) ($1 = 3.7502 riyals) ($1 = 3.6400 Qatar riyals) (Reporting by Ateeq Shariff in Bengaluru; Editing by Alison Williams)