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Tuesday, 11 April 2017

MIDEAST STOCKS-TAQA weighs on Abu Dhabi, Dubai Islamic Bank buoys Dubai on Q1 results | Reuters

MIDEAST STOCKS-TAQA weighs on Abu Dhabi, Dubai Islamic Bank buoys Dubai on Q1 results | Reuters:

"Shares in Abu Dhabi National Energy dropped on profit taking, pulling that index lower in early trade on Tuesday, while strong first quarter results from Dubai Islamic Bank helped to buoy its local index.

Abu Dhabi's index edged down 0.1 percent, with the main drag coming from a 3.3 percent drop in shares of Abu Dhabi National Energy.

TAQA had closed 1.7 percent higher Monday and shares of the energy company have been volatile since last week when the government announced it had raised its stake in the company."



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