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Thursday, 8 December 2016

MIDEAST STOCKS-Foreign investors buy Dubai; Saudi, Egypt continue pulling back | Reuters

MIDEAST STOCKS-Foreign investors buy Dubai; Saudi, Egypt continue pulling back | Reuters:

"Stock markets in the United Arab Emirates rose strongly for a second straight day on Thursday while blue chips in Saudi Arabia and Egypt fell as investors kept booking profits.

Dubai's index added 1.8 percent with trading volume jumping 75 percent from the previous day as mid- and large- sized shares attract foreign funds. Emaar Properties climbed 2.5 percent. The index rose 6 percent over the week.

But builder Drake & Scull lost 1.2 percent after the loss-making company announced it had appointed PricewaterhouseCoopers to assist with "examining the company's capital structure and financial liabilities"."



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