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Sunday, 14 August 2016

MIDEAST STOCKS-Gulf shares rise after oil prices climb, Egypt eases off 13-month high | Reuters

MIDEAST STOCKS-Gulf shares rise after oil prices climb, Egypt eases off 13-month high | Reuters:

"A bounce in oil prices at the end of last week helped lift stock markets in the Gulf on Sunday, while Egypt's main index eased off a 13-month closing high as investors were cautious about a preliminary agreement with the IMF on a loan programme.

Dubai's index rebounded 1.2 percent to 3,567 points, its highest close in 16 weeks. Emaar Properties surged 3.5 percent and Dubai Islamic Bank added 1.7 percent.

But DAMAC Properties fell 0.4 percent after the developer reported a 37.4 percent fall in second-quarter net profit to 886.8 million dirhams ($241 mln)."



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