MIDEAST STOCKS-Gulf markets mixed on weak earnings, US curbs on China

By Ateeq Shariff

Feb 25 (Reuters) - Stock markets in the Gulf were mixed on Tuesday as corporate earnings fell short of market expectations, amid concerns about U.S. investment curbs on China.

U.S. President Donald Trump has ordered restrictions on Chinese investments in strategic areas such as chips, artificial intelligence and aerospace.

Also weighing on sentiment was Trump's indication that proposed tariffs on Mexico and Canada were still set to start next week, although investors had hoped negotiations would forestall the threat.

Saudi Arabia's benchmark stock index .TASI dropped 0.2%, with ACWA Power Company 2082.SE retreating 3.2%.

ACWA Power reported annual profit ahead of analysts' estimates but missed on revenue.

Among other losers, Saudi Ceramic Company 2040.SE plunged 10%, its biggest intraday fall since October 2020, after reporting an annual loss.

Yanbu National Petrochemical Company 2290.SE declined 1.7% after its 2024 profit missed analysts' estimates.

Dubai's main share index .DFMGI nudged 0.1% higher, helped by a 1.1% rise in blue-chip developer Emaar Properties EMAR.DU, while Emirates NBD (ENBD) ENBD.DU climbed 1.7%.

ENBD, Dubai's top lender, made a mandatory cash offer to buy Emirates Islamic Bank EIB.DU at 11.95 dirhams ($3.25) per share.

In Abu Dhabi, the index .FTFADGI added 0.2%, with ADNOC Gas ADNOCGAS.AD closing 1.8% higher.

The Qatari benchmark .QSI dropped 0.7%, as most of its constituents were in negative territory including Qatar Navigation QNNC.QA, which retreated 3.9%.

The Qatari stock market slipped as profit-taking emerged following a period of horizontal trading amid uncertainty near resistance levels, said Hani Abuagla, senior market analyst at XTB MENA.

Outside the Gulf, Egypt's blue-chip index .EGX30 lost 0.9%, weighed down by a 2.6% fall in Commercial International Bank COMI.CA.

The Kuwait bourse was closed for a public holiday.

($1 = 3.6725 UAE dirham)