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Tuesday, 7 February 2017

MIDEAST STOCKS-DFM shares outperform in sluggish Gulf market | Reuters

MIDEAST STOCKS-DFM shares outperform in sluggish Gulf market | Reuters:

"Shares in the Gulf's only listed stock exchange operator outperformed in morning trade on Tuesday as most of the region moved little because of soft global equities and an overnight drop in oil prices. Dubai Financial Market rose 3.0 percent after it made a net profit of 78.5 million dirhams ($21.4 million) in the fourth quarter, five times what it made in the prior-year period. Quarterly revenue increased to 131.2 million dirhams from 69.3 million dirhams as the market's trading turnover ballooned late last year, buoyed by a recovery of oil prices. Dubai's main stock index, however, edged down 0.2 percent as Emaar Properties, which has not yet reported quarterly earnings, fell 1.3 percent."



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