Wednesday 24 February 2016

MIDEAST STOCKS-Declines in oil prices weigh on UAE, Qatar stocks | Reuters

MIDEAST STOCKS-Declines in oil prices weigh on UAE, Qatar stocks | Reuters:

"Steep declines in oil prices have dampened investor sentiment, sending stock markets in the United Arab Emirates and Qatar lower in early trade on Wednesday.

Dubai's index fell 1.0 percent to 3,160 points in the first hour as investors booked profits close to chart resistance at the late December peak of 3,189 points.

Emirates NBD, the largest lender by market value, fell 4.1 percent after adding 2.6 percent on the previous day. The shares go ex-dividend on Wednesday. On Tuesday, Goldman Sachs raised its recommendation for the stock to "buy" from "neutral"."



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