MIDEAST STOCKS-UAE markets dip on renewed geopolitical jitters

By Mohd Edrees

Jan 23 (Reuters) - Stock markets in the United Arab Emirates closed lower on Friday, with Dubai pulled down by weakness in utilities and financial shares after U.S. President Donald Trump renewed threats against Iran.

President Donald Trump said on Thursday that the U.S. has an "armada" heading towards Iran but hoped he would not have to use it, renewing warnings to Tehran against killing protesters or restarting its nuclear programme.

Dubai's main market .DFMGI retreated 0.2%, snapping six sessions' winning streak after hitting nearly 20-year high in the previous session.

State-run utility Dubai Electricity and Water Authority DEWAA.DU slid 1.3%, while Islamic lender Dubai Islamic Bank DISB.DU eased 0.2%.

However, business park operator Tecom Group TECOM.DU gained 0.6% after the firm acquired an integrated university campus for 125 million dirhams ($34.03 million).

Abu Dhabi's benchmark index .FTFADGI settled 0.2% lower, ending six sessions' momentum, dragged down by a 2.9% fall in Sharjah Islamic Bank SIB.AD and a 1.3% drop in Sharjah-based Dana Gas DANA.AD.

Oil prices - a key catalyst for the Gulf's financial market - jumped on Friday with Brent crude LCOC1 up 1.6% at $65.08 a barrel by 1127 GMT. O/R

Dubai's index climbed 2.7% for the week, its best weekly performance since mid-July last year, while Abu Dhabi added 1.6% in the week, according to data compiled by LSEG.

($1 = 3.6728 UAE dirham)