Wednesday 6 April 2016

MIDEAST STOCKS-Speculative stocks lead Dubai up, region firm | Reuters

MIDEAST STOCKS-Speculative stocks lead Dubai up, region firm | Reuters:

"Rallies in small and mid-cap stocks helped lift Dubai's stock market in early trade on Wednesday while Abu Dhabi and Qatar recovered some of the previous session's losses.

Dubai-based investment firm Shuaa Capital, which is 48.4 percent owned by a Dubai state-linked entity, jumped 6.1 percent, after surging 12.1 percent in unusually high volume on Tuesday. It has soared in heavy trade over the past 10 days, partly because of speculation that a strategic investor might be acquiring the company.

Builder Arabtec and developer Union Properties rose 1.7 and 1.4 percent respectively. Dubai's index was up 0.7 percent in the first 45 minutes of trade."



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