Dubai's Drake & Scull closes at all-time high

STOCK WATCH: Third-quarter earnings for UAE developers may rise sequentially, Deutsche Bank said on Wednesday. (Getty Images)

Shares in Dubai-based contractor Drake & Scull jumped 5.5 percent, leading the benchmark index DFM higher.

The stock recorded its highest close since listing on the Dubai bourse in March this year, following an announcement of a new contract award worth $109m in Abu Dhabi on Wednesday.

Dubai's benchmark closed 1.4 percent higher at 2,297 points, outperforming all other Gulf Arab markets.

Qatar National Bank declined 1.2 percent after its third-quarter profit fell 7.5 percent on Wednesday, and led the country's index QSI to a lower close.

Qatar's benchmark eased 0.2 percent to 7,582 points, falling for a second day.

Kuwait and Bahrain also ended lower.

Oman Cement Co climbed two percent to lead gains on Oman's index MSI.

The benchmark closed marginally higher, up 0.3 percent to 6,730 points. Oman's index rose for fifth trading session in six. (Reuters)

Print | Email | Discuss this article

| Share |

READERS' COMMENTS

Click here to post a comment

Add your Comment All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic. Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *	(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments
Enter the words above *
Please click post only once - your comment will not be published immediately.

MORE FROM ARABIANBUSINESS.COM