Wednesday 23 January 2019

MIDEAST STOCKS-Financials lift #Dubai, most major Gulf markets gain | Reuters

MIDEAST STOCKS-Financials lift Dubai, most major Gulf markets gain | Reuters:

The Dubai stock market snapped a three day losing streak on Wednesday, boosted by its financial and property shares, while Saudi Arabia rose on the back of its banks.

The Dubai index was up 0.9 percent higher with Emirates NBD, its largest bank, adding 2.1 percent and its largest listed developer Emaar Properties gaining 2.2 percent.

Gulf Arab economies are expected to grow at a slower pace than previously forecast, a quarterly Reuters poll of economists found, as oil output cuts, lower crude prices and weaker global growth put pressure on regional economies.

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