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Wednesday, 15 February 2017

MIDEAST STOCKS-Gulf mostly edges up in early trade, Arabtec stabilising in Dubai | Reuters

MIDEAST STOCKS-Gulf mostly edges up in early trade, Arabtec stabilising in Dubai | Reuters:

"Most Gulf stock markets edged up in early trade on Wednesday with construction firm Arabtec beginning to stabilise in Dubai after a plunge this week. Dubai's index added 0.2 percent with Arabtec down 0.9 percent at 1.07 dirhams, bouncing from an early low of 0.97 dirham in very heavy trade. It had plunged its 10 percent daily limit on the two previous days after the company reported a wider fourth-quarter loss and said its board was seeking shareholder approval for a 1.5 billion dirham ($408.4 million) rights issue."



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