Wednesday 16 December 2015

MIDEAST STOCKS-Dubai leads Gulf recovery as global mkt gains boost mood | Reuters

MIDEAST STOCKS-Dubai leads Gulf recovery as global mkt gains boost mood | Reuters:

"Dubai led gains on Wednesday as Gulf bourses extended a recovery from multi-year lows hit earlier this week, with upbeat global markets helping bolster fragile regional investor sentiment.

Small to mid-sized stocks dominated trading volumes on Dubai index, which climbed 1.9 percent to 2,978 points, heading for a third straight gain since Sunday's two-year low.

The benchmark has technical support at 2,857, NBAD Securities said in a research note that also highlighted stiff resistance at 2,950, which the measure has now surpassed but has not conclusively broken above."



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