Mideast Stocks: Banks boost Qatar, real estate weighs on Dubai | ZAWYA MENA Edition:
Most Gulf markets opened little changed on Wednesday as real estate stocks continued to pressure Dubai and banks propped up Qatar's index.
In Dubai, five out of 6 real estate stocks fell, sending the main index down 0.4 percent. Emaar Properties shed 0.8 percent while DAMAC Properties fell 1.5 percent after saying it expects Dubai's real estate market to face another few quarters of "soft market conditions" before starting to rebound from late 2019.
Construction firm Drake & Scull continued to surge, adding 3.6 percent in heavy trade ahead of its shareholder meeting this Thursday, which is expected to discuss ways to strengthen the company.
No comments:
Post a Comment