Font Size

- Aa +

Wed 14 Nov 2012 12:05 PM

Font Size

- Aa +

Dubai gains; Kuwait slips from four-week high

Dubai's measure gains as investors target bluechips, while trading in Gulf markets is lacklustre amid global uncertainty

Dubai gains; Kuwait slips from four-week high
Dubais measure gains as investors target bluechips.

Dubai's measure gains as investors target bluechips, while trading in Gulf markets is lacklustre amid global uncertainty.

Emaar Properties adds 0.3 percent, telecom operator du rises 0.8 percent and Dubai Islamic Bank is flat after gaining 0.5 percent earlier in the day.

Drake & Scull climbs 0.9 percent. The maintenance and engineering firm signed a US$120m-equivalent five-year loan facility to support growth, it said on Wednesday.

The emirate's index climbs 0.3 percent to 1,619 points, up for a third session in the last six.

Elsewhere, Abu Dhabi's benchmark eases 0.1 percent to 2,692 points, heading for its second decline since Monday's 16-month high.

Abu Dhabi National Energy Co (TAQA) falls 0.8 percent after it swung to a third quarter loss as higher revenues were offset by costs and lower fuel income.

Heavyweight First Gulf Bank drags with a 1.4 percent decline.

In Kuwait, the index sheds 0.3 percent to 5,800 points, easing from Tuesday's near-four-week high.

Shares in Agility, one of the largest logistics companies in the Gulf region, trade flat after reporting a 20.4 percent rise in third-quarter net profit.

Elsewhere, Qatar's index eases 0.3 percent to 8,424 points, while Oman's benchmark trades flat.

Asian stocks edged up on Wednesday but global equities lacked the impetus for a decisive rebound, with European shares set to fall as investors continue to fret over the United States' looming "fiscal cliff" and the euro zone's intractable crisis.