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Wednesday, 7 June 2017

MIDEAST STOCKS-Qatar stabilises on valuations, Dubai's Emaar jumps on unit's IPO plan | Reuters

MIDEAST STOCKS-Qatar stabilises on valuations, Dubai's Emaar jumps on unit's IPO plan | Reuters:

"Qatari shares that are members of global emerging market benchmarks helped stabilise the bourse in early trade on Wednesday, while Dubai's Emaar Properties jumped on news it will launch an initial public offering of its local real estate unit. Qatar's stock index was roughly flat after plummeting 8.7 percent over the last two days when Saudi Arabia, the United Arab Emirates and Bahrain cut diplomatic and transport ties, accusing Doha of backing terrorism. "From a valuation perspective, there is now a good buying opportunity in some companies," one regional brokerage firm told its clients. Reflecting the political tensions, it did not want to be publicly named."



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