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Thursday, 1 June 2017

MIDEAST STOCKS-Blue chips lift most of Gulf, Dana surges again, Egypt at new high | Reuters

MIDEAST STOCKS-Blue chips lift most of Gulf, Dana surges again, Egypt at new high | Reuters:

"Abu Dhabi's Dana Gas was buoyed for a second day on Thursday by hopes for payments from the Kurdistan Regional Government (KRG), while blue chips rose in most other Middle Eastern markets and Egypt's index closed at a record high.

Dana jumped 7.3 percent, following Wednesday's 5.1 percent jump, after news that Pearl Petroleum, a consortium involving Dana, had applied to a U.S. District Court for recognition and enforcement of awards made at the London Court of International Arbitration against the KRG.

The KRG has resisted legal efforts to make it pay Pearl for years and it was not clear if the latest legal action would have a different result."



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