Tuesday 24 November 2015

MIDEAST STOCKS-Gulf mixed in thin trade, Arabtec flat | Reuters

MIDEAST STOCKS-Gulf mixed in thin trade, Arabtec flat | Reuters:

"Gulf stock markets were mixed in thin trade early on Tuesday as a management change at Dubai builder Arabtec failed to boost the stock.

Arabtec, Dubai's most heavily traded stock, rose as much as 2.6 percent in the opening minutes after the company, confirming a Reuters story published late on Monday, said its board had accepted the resignation of acting chief executive Mohamed al-Fahim and replaced him with board member Saeed al-Mehairbi.

But the stock soon came off its highs and was flat after an hour of trade. Arabtec, which posted a big third-quarter loss, did not give a reason for the change."



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