Sunday 27 March 2016

MIDEAST STOCKS-Gulf markets mixed, Dubai's Shuaa loses steam | Reuters

MIDEAST STOCKS-Gulf markets mixed, Dubai's Shuaa loses steam | Reuters:

"Stock markets in the Gulf were mixed in early trade on Sunday with most shares moving little, as Dubai's Shuaa Capital lost steam after soaring last week.

Shuaa rose more than 7 percent in the opening minutes of trade on Sunday but after 75 minutes was flat. On Thursday the stock, which has rebounded from a record low hit earlier this year, soared the 15 percent daily limit in its heaviest trading volume since at least 2002.

In a statement to the exchange on Sunday, Shuaa said it had held a routine board meeting on Thursday but "did not resolve any material matter" at the meeting. It did not elaborate."



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