MIDEAST STOCKS-Mixed in thin trade; Emaar Properties weighs on Dubai | Reuters:
"Middle East stock markets were mixed in quiet trade on Sunday with Dubai falling as Emaar Properties was sold after a fire at one of its luxury hotels. The Saudi Arabian and Egyptian markets gained, supported by large-cap bank stocks.
Emaar shares slid in heavy, early trade after its Address Downtown hotel in Dubai was engulfed by a fire on New Year's Eve. The stock hit an intra-day low of 5.44 dirhams but a rebound gained steam as buy orders were placed in the final 15 minutes of trade. It closed at 5.60 dirhams, down 1.6 percent, and Dubai's index finished down 0.5 percent.
Dubai's leading real estate developer said the blaze would have "no material impact" on it because the building and risk of fire were covered by its insurance."
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