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Monday, 6 February 2017

MIDEAST STOCKS-UAE outperforms in an otherwise flat Gulf; Egypt dips | Reuters

MIDEAST STOCKS-UAE outperforms in an otherwise flat Gulf; Egypt dips | Reuters:

"Most stock markets in the Gulf moved little on Monday but United Arab Emirates bourses outperformed with mid-to-large sized companies boosting Dubai, while Egypt's index slipped in thin volume.

Dubai's main index added 1.2 percent as Emaar Properties gained 2.7 percent after saying it would recover 1.22 billion dirhams ($332 million) from an insurance claim for a fire that engulfed one of its hotels in late 2015.

The Dubai-listed shares of GFH Financial Group fell as much as 6.5 percent during the day but ended 0.4 percent higher. The Bahrain-based financial firm announced plans for a big increase in share capital to fund a new growth strategy of acquiring financial institutions and infrastructure investments."



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