MIDEAST STOCKS-Most markets retreat on U.S. worries; Dubai has best quarter in 6 years | Reuters:
"* Dubai rockets 24 pct in Q3
* Falls on Monday, but still outperforms global markets
* Saudi posts strongest quarter since early 2012
* Egypt retreats from technical resistance
* Kuwait down but blue chips still bought
By Nadia Saleem
DUBAI, Sept 30 (Reuters) - Most regional markets slipped on Monday as fears of a U.S. government shutdown spurred slight profit-taking, but Dubai's bourse booked its biggest quarterly gain in nearly six years.
Dubai's index shed 0.3 percent, easing off Sunday's near five-year high. That trimmed its third-quarter gain to 24.3 percent, its best performance since late 2007. Trading volume in the quarter was the highest in four years.
Shares in Dubai were boosted during the quarter by heavy retail investor activity after index compiler MSCI upgraded the United Arab Emirates and Qatar to emerging market status, which is expected to bring in fresh funds worth about $500 million to each country."
'via Blog this'
No comments:
Post a Comment