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Wednesday, 28 June 2017

MIDEAST STOCKS-GFH helps lift Dubai slightly higher in otherwise quiet region | Reuters

MIDEAST STOCKS-GFH helps lift Dubai slightly higher in otherwise quiet region | Reuters:

"Shares often traded by short-term speculative investors helped take Dubai's stock index slightly higher in early trade on Wednesday in an otherwise quiet region, with some major Gulf markets still on Eid al-Fitr holidays. The Dubai index was up 0.3 percent as GFH Financial , the most heavily traded stock, climbed 4.6 percent on news that it had agreed to exit part of its real estate portfolio, which it said had an "approximate value" of $55 million. The book value of the asset is $20 million. Builder Drake & Scull was up 1.1 percent but insurer Islamic Arab Insurance dropped 4.1 percent."



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