Monday 10 November 2014

MIDEAST STOCKS-Markets continue to recover, Arabtec lifts Dubai | Reuters

MIDEAST STOCKS-Markets continue to recover, Arabtec lifts Dubai | Reuters:



"Most stock markets in the Middle East gained on Monday, led by Dubai, where construction firm Arabtec Holding rose sharply after a key shareholder bought a stake in a major Egyptian property developer.



Dubai's index jumped 2.8 percent, its biggest daily gain in three weeks, as Arabtec, which dominated trading volumes, surged 8.8 percent.



Abu Dhabi state fund Aabar Investments, a major shareholder in Arabtec, bought a 5.1 percent stake in Egypt's second-largest listed real estate developer Palm Hills on Sunday."



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