Tuesday, 5 June 2018

MIDEAST STOCKS-Abu Dhabi gains on TAQA, property stocks steady in Dubai | ZAWYA MENA Edition

MIDEAST STOCKS-Abu Dhabi gains on TAQA, property stocks steady in Dubai | ZAWYA MENA Edition:

"Gulf stocks were mostly higher on Tuesday, with Abu Dhabi shares boosted by gains in energy firm Abu Dhabi National Energy Co (TAQA) due to higher oil prices. Abu Dhabi's benchmark index was up 0.4 percent in early trade with TAQA shares rising 3.4 percent, fuelled by higher oil prices. TAQA shares have more than doubled this year. Oil prices edged higher after falling nearly 2 percent in the previous session, but growing U.S. production and expectations of higher OPEC supplies limited the bounce."



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