Tuesday 13 February 2018

MIDEAST STOCKS-Emaar Malls, Aramex boost Dubai, MSCI changes roil Egypt

MIDEAST STOCKS-Emaar Malls, Aramex boost Dubai, MSCI changes roil Egypt:

"Strong earnings by Emaar Malls and Aramex boosted Dubai’s stock market on Tuesday but most major Middle Eastern bourses were soft, with changes by MSCI to its equity indexes affecting the Egyptian market. The Dubai index added 0.8 percent as Emaar Malls , the emirate’s flagship mall operator, rose 3.6 percent to 2.33 dirhams, although it came off the day’s high after failing a test of technical resistance on the January peaks of 2.38 dirhams. It reported a 27 percent gain in fourth-quarter net profit to 574 million dirhams ($156 million). SICO Bahrain had forecast 499 million dirhams."



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