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Monday, 17 July 2017

MIDEAST STOCKS-Dubai rises above chart barrier in otherwise sluggish region

MIDEAST STOCKS-Dubai rises above chart barrier in otherwise sluggish region:

"Dubai's stock index rose above technical resistance in early trade on Monday while the rest of the region's bourses remained mostly sluggish. The Dubai index gained 0.4 percent in modest trading volume to 3,586 points, eclipsing its April peak of 3,573 points. The next, strong resistance is at 3,737-9 points, the January and February peaks. Islamic Arab Insurance climbed 3.8 percent in unusually heavy trade - it was the market's most active stock, and three of the 10 most active stocks were insurers. DAMAC Properties, which has been surging in the past week, climbed a further 3.0 percent."



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