MIDEAST STOCKS-Dubai jumps on Emaar breakout; oil weighs on Saudi stocks | Reuters:
"* Emaar confirms break of major chart resistance
* Arabtec rises before publishing estimate-beating results
* Qatar boosted by CBQ, Gulf International Services
* Saudi Arabia the only Gulf market in the red
* Petrochemicals drop after oil price slides
By Olzhas Auyezov
DUBAI, March 18 (Reuters) - Dubai's Emaar Properties broke major chart resistance to lift the emirate's stock market index on Tuesday for a third straight session, while most Gulf markets rose as global jitters over the Ukraine crisis partially eased.
Emaar jumped 5.4 percent to 9.75 dirhams in its heaviest trading volume since April 2012, confirming a break above 9.16-9.20 dirhams, the February and March highs.
Shares in Emaar have been gaining since the company at the weekend announced a higher 2013 dividend and a plan to list its shopping mall unit. They were boosted further on Tuesday when Emaar chairman Mohamed Alabbar was quoted as saying in a magazine interview that the unit would list in both Dubai and London, and aimed to do so before end-June."
'via Blog this'
No comments:
Post a Comment