MIDEAST STOCKS-Most Gulf bourses end higher as DAMAC lifts Dubai - Agricultural Commodities - Reuters:
Most major Gulf markets closed higher on
Sunday, as investor focus turned to corporate earnings starting
this week, while a surge in DAMAC Properties helped the Dubai
bourse.
Dubai's main share index ended 0.2% up, with DAMAC
Properties surging 11.6%, its biggest intraday gain
since March 25.
On Thursday, Maple Invest said that on behalf of DAMAC
founder and chairman Hussain Sajwani and his group, it was
exploring the possibility of his buying out minority
shareholders and taking the company private.
The firm, which is considering several investments in the
United Kingdom, Europe and the United States, has made no offer
or agreement to date.
However, the index's gains were limited by losses at Emaar
Properties, which retreated 1.1%.
On Friday, S&P Global downgraded the blue-chip developer to
a BB+ "junk" rating from an investment grade BBB- score.
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