Thursday, 17 May 2012

MIDEAST STOCKS-Dubai up from low; Egypt extends drop ahead of vote - Yahoo! News UK

Dubai's index made its largest gain in three weeks on Thursday, rebounding from Wednesday's 15-week low as early-morning gains in Asia drew in local bargain hunters, while Egypt extended losses ahead of next week's presidential election.
Other Middle East markets ended mixed, with Abu Dhabi and Oman eking out minor gains while Kuwait and
Qatar again fell.
Dubai's index climbed 0.7 percent, its biggest rise since April 24, as volumes slumped to a four-month low. The benchmark has fallen 15.9 percent since a 16-month high on March 5, to be up 9 percent this year.

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