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Monday, 20 February 2017

MIDEAST STOCKS-Gulf markets mostly lower, Arabtec and Dana sink in UAE | Reuters

MIDEAST STOCKS-Gulf markets mostly lower, Arabtec and Dana sink in UAE | Reuters:

"Gulf stock markets mostly fell in early trade on Monday with Dubai leading the slide, dragged down by a decline in construction firm Arabtec to a five-year low. The Dubai index dropped 1.0 percent as Arabtec sank 7.4 percent to 0.925 dirham, falling below technical support on its December 2015 low of 0.93 dirham. The company reported a week ago that its net loss had widened in the fourth quarter and that its board was seeking shareholder approval for a 1.5 billion dirham ($408.4 million) rights issue."



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