MIDEAST STOCKS-Dubai stocks up on DIB rights issue, other Gulf markets edge up | Reuters:
"Dubai stocks rose in early trade on Thursday, carried upward by renewed buying of shares in heavyweight Dubai Islamic Bank (DIB), and most other Gulf markets edged up. The Dubai index was up 1.4 percent as Dubai Islamic Bank jumped 4.6 percent to 5.01 dirhams in heavy trade. Wednesday was last day of trade in the bank’s rights issue, which allowed purchase of DIB shares at 3.11 dirhams. Investors had been selling the stock to buy the rights before the deadline, contributing to its 13 percent decline this year."
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