Monday 2 November 2015

MIDEAST STOCKS-Emaar lifts Dubai after Q3 earnings; most of Gulf quiet | Reuters

MIDEAST STOCKS-Emaar lifts Dubai after Q3 earnings; most of Gulf quiet | Reuters:

"Emaar Properties lifted Dubai's stock market early on Monday after it reported third-quarter earnings, but most Gulf markets were little changed in quiet trade.

Dubai's top real estate developer reported a 31 percent rise in third-quarter net profit to 843 million dirhams ($229.5 million). That came in below a forecast by EFG Hermes, which had estimated 1.02 billion dirhams, but it was enough to boost Emaar shares 1.6 percent in the opening minutes.

Dubai's stock index rose 0.7 percent, also buoyed by shipping firm Gulf Navigation, which climbed 3.4 percent after reporting a 123 percent rise in nine-month net profit on an 11 percent increase in revenues."



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