Google+ Followers

Monday, 8 May 2017

MIDEAST STOCKS-Dubai's DSI ends higher on CEO remarks, modest rebound across region | Reuters

MIDEAST STOCKS-Dubai's DSI ends higher on CEO remarks, modest rebound across region | Reuters:

"Shares of builder Drake & Scull (DSI) rose in the final hour of trade on Monday as retail investors reacted to some potentially positive news from the company, while the region recovered some of the previous session's losses.

DSI, which fell by a little more than 5 percent earlier in the session, closed 0.8 percent higher after chief executive Wael Allan told Reuters in an interview it expects to hear "very soon" from Saudi Aramco about settling about 1.05 billion riyals, only half the outstanding payments owed to it for its work on Riyadh's King Abdullah Petroleum Studies and Research Centre.

If the matter is not settled, Allan said DSI may consider legal options including arbitration."



'via Blog this'