MIDEAST STOCKS-Dubai Islamic Bank pulls down Dubai, rest of Gulf moves little

MIDEAST STOCKS-Dubai Islamic Bank pulls down Dubai, rest of Gulf moves little:

"Dubai Islamic Bank pulled down the emirate’s stock index in early trade on Tuesday after it announced a new share issue, while other Gulf bourses moved little. The Dubai index slipped 1.0 percent as Dubai Islamic fell 4.1 percent. Its board called an annual general meeting for Feb. 21 to approve a proposed capital increase via issuance of up to 1.65 billion new shares; the bank currently has 4.9 billion outstanding shares. Bahrain’s Ithmaar Holding, which listed in Dubai on Monday, shot up its 15 percent daily limit to 0.87 dirham in heavy trade. Its Bahrain-listed shares surged 7.7 percent to 21.0 U.S. cents, equivalent to 0.77 dirham."



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