Wednesday 4 November 2015

MIDEAST STOCKS-Amlak lifts Dubai; other Gulf markets sluggish | Reuters

MIDEAST STOCKS-Amlak lifts Dubai; other Gulf markets sluggish | Reuters:

"Islamic mortgage provider Amlak Finance boosted Dubai's stock market early on Wednesday after the company released third-quarter earnings, while other Gulf markets were sluggish.

Amlak jumped 5.8 percent after reporting net group profit surged to 57 million dirhams ($15.5 million) from 7 million dirhams a year ago, while nine-month profit dropped 11 percent. It was Dubai's most heavily traded stock, helping the index rise 0.5 percent.

Abu Dhabi's index edged down 0.3 percent as telecommunications blue chip Etisalat fell by the same margin."



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