MIDEAST STOCKS-Gulf stocks rise on bargain-hunting, potential COVID-19 drug - Agricultural Commodities - Reuters:
Major Gulf stock markets traded higher on Sunday as investors looked for bargains following two sessions of losses and on hopes about a clinical trial for a potential drug to treat COVID-19.
Gilead Sciences Inc on Friday increased the enrolment target by 3,600 for a trial testing its experimental drug, remdesivir, in severe COVID-19 patients, a day after a media report said the drug was showing promise.
In Dubai, the index gained 2.9%, with its largest lender Emirates NBD rising 3.7%, while Emaar Properties was up 4.1%.
Dubai 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.
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