Thursday, 12 May 2011

MIDEAST STOCKS-UAE, Qatar slip on profit-taking, Egypt edges up | Reuters

Most Gulf Arab markets fell on Thursday as investors booked profits in UAE and Qatar, while Renaissance RSC.OM weighed on Oman's bourse for a second day.

Dubai's bluechips ended the benchmark's two-session gains. Developer Emaar Properties (EMAR.DU) fell 0.6 percent and contractor Arabtec (ARTC.DU) slid 2.1 percent.

Drake & Scull International (DSI.DU) fell 0.9 percent after gaining 2.9 percent on Wednesday, hours before posting a forecast-beating 21 percent rise in net profit.

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