Thursday 11 February 2016

MIDEAST STOCKS-Dubai down on weak earnings, Gulf soft | Agricultural Commodities | Reuters

MIDEAST STOCKS-Dubai down on weak earnings, Gulf soft | Agricultural Commodities | Reuters:

"Disappointing earnings from a few Dubai companies pulled the emirate's stock index lower in early trade on Thursday while most other Gulf stock markets slipped after oil prices reversed back near $30.

Dubai's index was down 0.5 percent, weighed down by the real estate sector. DAMAC Properties fell 3.9 percent in volatile trade; it reported a 12 percent fall in fourth-quarter net profit.

Dubai Parks and Resorts fell 2.7 percent after the amusement park builder posted a 2015 loss of 109 million dirhams ($29.7 million) compared to a 21 million dirham loss a year earlier."



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