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Tuesday, 14 February 2017

MIDEAST STOCKS-Company earnings, news support UAE; Saudi, Egypt underperform | Reuters

MIDEAST STOCKS-Company earnings, news support UAE; Saudi, Egypt underperform | Reuters:

"Corporate earnings and other news from companies in Dubai helped that market rise on Tuesday, while Abu Dhabi was supported by earnings at Union National Bank and an arbitration judgement in favour of Dana Gas.

Dubai's index rose 0.4 percent as Drake & Scull climbed 6.9 percent after slumping by as much as 8 percent in the opening minutes of trade.

The builder reported a net loss in the fourth quarter of 490 million dirhams ($133.5 million) versus a profit of 14.7 million dirhams in the prior-year period."



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