Sunday 18 March 2018

MIDEAST STOCKS-Gulf softens despite oil rebound; Ezz Steel lifts Egypt

MIDEAST STOCKS-Gulf softens despite oil rebound; Ezz Steel lifts Egypt:

"Gulf stock markets eased on Sunday as gains in oil prices at the end of last week failed to spur activity, though Ezz Steel helped to lift Egypt’s index.

There was very little action in the United Arab Emirates, with both Dubai and Abu Dhabi registering among their lowest trading volumes this year as the indexes fell marginally.

Emaar Properties was the worst performer in Dubai, shedding 1.9 percent and closing near 20-month lows. The stock has been sold off by international accounts since last week, said one trader, depressed by the sluggish outlook for Dubai’s real estate market."



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