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Sunday, 16 July 2017

MIDEAST STOCKS-Region mixed; Dubai tests chart barrier, poor earnings hit Oman

MIDEAST STOCKS-Region mixed; Dubai tests chart barrier, poor earnings hit Oman:

"Stock markets in the Gulf were mixed on Sunday with the global uptrend in equities pushing Dubai's index up to test technical resistance but weak corporate earnings hurting Oman.

The Dubai index gained 1.0 percent in modest trading volume to close on its April peak of 3,573 points. Eight of the 10 most heavily traded stocks rose, with the most active, Union Properties, edging up 0.3 percent.

Abu Dhabi added 0.2 percent as Ajman Bank gained 2.6 percent despite reporting a moderate fall in second-quarter net profit. Its operating income actually rose slightly."



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