Mideast Stocks: Gulf markets rebound after sharp two-day decline | ZAWYA MENA Edition:
Major Gulf stock markets closed higher on Sunday, buoyed by some bargain-hunting after sharp declines in the previous two sessions and by progress towards clinical trials of a potential treatment for COVID-19.
Gilead Sciences on Friday increased the enrolment target by 3,600 for trials of experimental drug remdesivir in severe COVID-19 patients, a day after a media report said the drug showed some promise.
However, analysts and the company urged caution on drawing conclusions from early data.
The Dubai index advanced 3%, with Emirates NBD Bank up 3.7% ahead of a board meeting to approve first-quarter earnings while developer Emaar Properties also gained 3.7%.
The emirate has extended by one week a 24-hour-a-day curfew imposed to control the spread of the coronavirus, the government said in a Twitter post on Friday.
No comments:
Post a Comment