amwalalghad :: Dubai stocks outperform early Monday on in otherwise lethargic Gulf

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For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        

Dubai stocks outperform early Monday on in otherwise lethargic Gulf


Published Monday, 06 February 2017 12:58 | Written by Amwal Al Ghad English

Most stock markets in the Gulf moved little in early trade Monday driven by flat global equity markets and crude oil prices, but Dubai outperformed on the back of advances in mid-to-large sized companies.

Dubai's index added 0.5 percent as Emaar Properties gained 0.8 percent after saying it would recover 1.22 billion dirhams ($332 million) from an insurance claim for a fire that engulfed one of its hotels, The Address Downtown, on New Year's Eve 2015.

But GFH Financial Group droppped 3.9 percent after announcing plans for a big increase in share capital to fund a new growth strategy of acquiring financial institutions and infrastructure investments.

Large caps helped carry Abu Dhabi's index 0.1 percent higher. Dana Gas, which has not yet reported quarterly earnings, rose 1.9 percent.

Saudi Arabia's index barely moved in the first half-hour. Loss-making mobile telecommunications company Etihad Atheeb sank a further 4.1 percent after dropping 3.9 percent on Sunday; the stock had soared last week on news that Atheeb had signed a deal to sell part of its tower network to Saudi Telecom Co.

But Yanbu Cement jumped 4.9 percent after saying it would distribute a cash dividend of 2 riyals per share for the second half of 2016, taking the full-year cash outlay to 3 riyals - although that is lower than the 5 riyals per share paid for 2015.

Source: Reuters

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