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Wednesday, 10 August 2016

MIDEAST STOCKS-Abu Dhabi dips on TAQA's weak Q2, Gulf moves little | Reuters

MIDEAST STOCKS-Abu Dhabi dips on TAQA's weak Q2, Gulf moves little | Reuters:

"Stock markets in the Gulf were little changed in early trade on Wednesday with Abu Dhabi's index lagging on poor second-quarter earnings from an energy-related company.

Abu Dhabi's index slipped 0.2 percent as Abu Dhabi National Energy Co (TAQA) fell 3.6 percent, erasing some of the 12 percent gain posted over the previous week, after it reported a wider second-quarter net loss.

The state-owned oil explorer made a net loss of 588 million dirhams ($160.2 million) versus a loss of 421 million dirhams a year ago."



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