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Monday, 1 August 2016

MIDEAST STOCKS-Gulf firms on positive Q2 results, Egypt weakens | Reuters

MIDEAST STOCKS-Gulf firms on positive Q2 results, Egypt weakens | Reuters:

"Gulf stock markets rose on Monday, supported by positive quarterly earnings from several major companies, while Egypt cooled for a second day as foreign traders exited positions.

Dubai's index added 0.9 percent as Emaar Properties climbed 1.9 percent to 6.95 dirhams after reporting an 8 percent rise in second-quarter net profit to 1.27 billion dirhams ($346 million).

That was ahead of the 1.06 billion dirhams forecast by SICO Bahrain and Thomson Reuters data shows the median target price of 11 analysts covering the stock is 9.64 dirhams."



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