UPDATE 1-MIDEAST STOCKS-DAMAC lifts Dubai, other Gulf markets mixed | Markets | Reuters:
"Shares in Dubai real estate developer DAMAC surged in early trade on Tuesday after the company reported strong first-quarter sales, while other Gulf stocks were mixed as oil prices remained soft.
Oil fell as Iran and six world powers ramped up the pace of negotiations to reach a preliminary deal by the end of the day that could ease sanctions and allow more Iranian crude onto world markets. Brent crude has slipped 0.8 percent and U.S. oil fell 1.4 percent.
Dubai's stock index inched up 0.2 percent as DAMAC surged 5.1 percent. A company executive told Reuters on Monday its first-quarter sales hit 2.8 billion dirhams ($762 million), increasing from the previous quarter thanks to robust demand from foreign buyers."
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