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Wednesday, 19 July 2017

MIDEAST STOCKS-Dubai rises after bank earnings, most of region sluggish

MIDEAST STOCKS-Dubai rises after bank earnings, most of region sluggish:

"Dubai's stock market rose on the back of strong bank earnings in early trade on Wednesday while most of the rest of the region was sluggish. The Dubai index, which has been technically bullish since rising earlier this week above resistance on its April peak, climbed 0.5 percent. Emirates NBD, Dubai's largest lender, gained 1.1 percent after it posted a 6 percent rise in second-quarter net profit to 2.02 billion dirhams ($550 million), at the high end of analysts' forecasts; three analysts had on average forecast 1.88 billion dirhams. Trade was very thin as the stock is tightly held."



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