Thursday 12 November 2015

MIDEAST STOCKS-Gulf markets mixed, weak earnings weigh | Reuters

MIDEAST STOCKS-Gulf markets mixed, weak earnings weigh | Reuters:

"Gulf stock markets were mixed in early trade on Thursday though weak quarterly earnings weighed on some shares.

Dubai's index dropped 0.6 percent as GFH Financial slid 3.4 percent to test its record low of 0.46 dirham. The company reported a third-quarter net profit attributable to shareholders of $800,000 versus $6.0 million a year earlier.

Arabtec continued sliding, losing 3.1 percent, after reporting a big quarterly loss on Wednesday, citing poor industry conditions in the region; fellow construction firm Drake & Scull fell by the same amount."



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