Middle East Stocks Decline; Dana Gas Soars on $2 Billion Award - Bloomberg Business:
"Stocks in Abu Dhabi led most Middle East markets lower, even as Dana Gas PJSC, an energy explorer based in the United Arab Emirates, soared after winning a court order over unpaid debts. Shares in Saudi Arabia and Egypt rose.
Dana advanced 15 percent, the most in almost a year, to 0.47 dirham at the close in the emirate, saying an international arbiter ordered the Kurdish government to pay the company and its partners about $2 billion for unpaid invoices. It was the most heavily traded stock on Abu Dhabi’s ADX General Index, accounting for about 50 percent of the volume. The gauge declined 1.1 percent to the lowest level since Nov. 16. Egypt’s EGX 30 Index gained 0.8 percent as of 1:56 p.m. in Cairo and Saudi Arabia’s Tadawul All Share Index rose 0.1 percent."
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