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Sunday, 4 June 2017

MIDEAST STOCKS-Gulf consolidates, Ezdan leaps in Qatar | Reuters

MIDEAST STOCKS-Gulf consolidates, Ezdan leaps in Qatar | Reuters:

"Gulf stock markets generally consolidated in quiet trade on Sunday although major property firm Ezdan Holding rebounded in Qatar. Ezdan had tumbled as much as 29 percent since late last month, when shareholders approved the delisting of the company. However, it has begun recovering in the past two trading days and was up 9.5 percent on Sunday at 12.53 riyals in heavy trade. The board has said it will prepare a statement of the company's fair value per share, to be presented to shareholders at a subsequent meeting, and some traders may be speculating on a buyout price above current levels. Ezdan shares have been removed from Qatar's stock index , however, which was down 0.4 percent on Sunday. Petrochemical producer Industries Qatar fell 1 percent."

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