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Monday, 13 February 2017

MIDEAST STOCKS-Arabtec drags Dubai lower, other markets mixed | Reuters

MIDEAST STOCKS-Arabtec drags Dubai lower, other markets mixed | Reuters:

"Shares in Dubai's Arabtec slumped in morning trade on Monday after the builder reported a larger fourth-quarter net loss which sapped risk appetite in that market while other markets were mixed.

Arabtec plummeted 9.8 percent after it made a net loss of 2.95 billion dirhams ($803.4 million) in the three months to Dec. 31.

The loss was far larger than the loss of 272.8 million dirhams forecast by EFG Hermes and the loss 403.74 million dirhams a year earlier."



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