Thursday 25 July 2013

MIDEAST STOCKS-UAE mkts resume gains in retail-driven trading; Egypt slips | Reuters

MIDEAST STOCKS-UAE mkts resume gains in retail-driven trading; Egypt slips | Reuters:

"UAE markets resumed gains on Thursday in retail dominated trading and most Gulf bourses climbed while Egypt extended losses on fears that violence could escalate further in response to the military's call for mass rallies on Friday.

Dubai's index climbed 0.1 percent, resuming gains after reaching a near five-year high on Tuesday.

It rallied 13.3 percent in July, with trading dominated in a few stocks. Shares in contractor Drake and Scull jumped 5.4 percent to new all-time high on speculation a strategic investor could buy a major stake in the firm, with builder Arabtec viewed by analysts as a possible buyer."

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