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Monday, 14 November 2016

MIDEAST STOCKS-Gulf markets diverge; Saudi cools on profit-taking | Reuters

MIDEAST STOCKS-Gulf markets diverge; Saudi cools on profit-taking | Reuters:
"Stock markets in the Gulf diverged in early trade on Monday as some shares which are members of MSCI's emerging market index recovered, while Saudi Arabia's index was pulled lower by profit-taking.

Dubai's main index edged up 0.5 percent with Air Arabia adding 2.4 percent after it reported a 26-percent rise in third-quarter net profit to 297 million dirhams ($80.9 million), at the upper end of analysts' forecasts.

But builder Arabtec, which reported a narrower quarterly loss of 225.5 million dirhams compared with a 944.8 million loss in the same period of last year, was down 1.5 percent.

"

'via Blog this'