MIDEAST STOCKS-UAE markets retreat from 5-year highs; Egypt up | Reuters:
"Stock markets in the United Arab Emirates edged down on Wednesday after hitting five-year highs the previous day, with pronounced profit-taking in Abu Dhabi and Dubai stalled near a psychologically important level.
Abu Dhabi's bourse ended 0.8 percent lower at 3,986 points, but is up 51.5 percent in 2013. Among regional bourses, only Dubai has made bigger gains this year.
"This is just very natural booking of profits towards the year-end," said Amer Khan, fund manager at Shuaa Asset Management.
Financial stocks were the biggest drag, with United Arab Bank, First Gulf Bank and National Bank of Abu Dhabi all in retreat.
Dubai's measure slipped 0.07 percent to 3,100 points, trimming 2013 gains to 91 percent."
'via Blog this'
No comments:
Post a Comment