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Monday, 1 May 2017

MIDEAST STOCKS-Markets rise, Amanat dominates Dubai trading | Reuters

MIDEAST STOCKS-Markets rise, Amanat dominates Dubai trading | Reuters:

"Most Gulf stock markets rose on Monday, with shares in healthcare and education investment company Amanat Holdings accounting for more than 40 percent of Dubai's market volume with a 4.5 percent rise.

The Dubai index rose 0.8 percent with Amanat, the most active stock, seeing its heaviest trade since November. The low-priced stock, which is sometimes the target of short-term speculation, will go ex-dividend on May 4.

Shares in Aramex lost 1.5 percent after the courier reported a 5 percent fall in quarterly profit due to a rise in provisions related to its incentive scheme. Profit was 91.8 million dirhams; EFG Hermes and SICO Bahrain had forecast 109.1 million dirhams and 105.6 million dirhams."



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