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Wednesday, May 25, 2016, Jaistha 11, 1423 BS, Shaban 17, 1437 Hijri

World Market And Commodity News
Gulf stock markets mixed in quiet trade
Published :Wednesday, 25 May, 2016,  Time : 12:00 AM  View Count : 21
May 24: Gulf stock markets were narrowly mixed in quiet trade early on Tuesday although Dubai investment bank Shuaa Capital jumped on hopes that it could be taken over by a major regional firm.
The Dubai stock index was flat but Shuaa climbed 5.4 per cent in unusually heavy trade after cut about 15 per cent of its workforce at the end of last week, ahead of a possible sale of a stake in the company by Dubai Group.
Dubai Group mandated Emirates NBD in April to arrange a sales process for its 48 per cent stake in Shuaa.
Saudi Arabia's index edged up 0.1 per cent with falling stocks outnumbering gainers by 85 to 59. Petrochemical giant Saudi Basic Industries rose 0.6 per cent.
Abu Dhabi's index also added 0.1 per cent, supported by a 0.8 per cent rise in Abu Dhabi Islamic Bank, but nine of the 10 most heavily traded stocks were flat or lower.
Qatar fell 0.3 per cent as real estate firm Ezdan lost 1.2 per cent.    ?Agencies

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