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Thursday, 9 February 2017

MIDEAST STOCKS-UAE hit by poor Q4 earnings, Kuwait retreats in volatile trade | Reuters

MIDEAST STOCKS-UAE hit by poor Q4 earnings, Kuwait retreats in volatile trade | Reuters:

"Poor fourth-quarter earnings from two United Arab Emirates companies weighed on stock markets there on Thursday while Kuwait pulled back in another day of volatile trade.

Dubai's index fell 1.2 percent to 3,683 points, retreating from major technical resistance at 3,737-38 points, the peaks in January.

Air Arabia slumped 8.6 percent in unusually heavy trade after it made a net loss attributable to owners of 38.6 million dirhams ($10.5 million) versus a net profit of 55.9 million dirhams in the prior-year period.

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