MIDEAST STOCKS-Gulf markets edge up while Egypt extends losses - Reuters:
Bank stocks helped support markets in the
United Arab Emirates on Wednesday, while Egypt's blue-chip index
extended losses for a third straight session.
Dubai's index edged up 0.1% supported by Emirates
NBD and Emaar Malls, which were up 0.4% and
1.6% respectively.
Air Arabia closed up 1.4%, stretching its winning
streak to a third day. On Monday, the budget airline announced
an order for 120 Airbus A320neo-family jets in a deal worth
about $14 billion.
However, the market's gains were capped by losses at real
estate sector with Arabtec Holding falling 4.7%, the
biggest loser on the index. On Friday, the contractor swung to a
third-quarter loss, compared with a profit a year earlier.
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