" Emaar " Dubai shares plunged 2.2%
Oil After rising Purchases limit the GCC markets losses
Gulf stock markets have stabilized and recovered some Tuesday after sharp decline in the previous session amid a sharp decline in oil prices. And Brent price towards $ 2 descended to the lowest level in five years without 68 dollars a barrel in early trading yesterday but pared its losses later and rose towards $ 70 a barrel. And this apparently fears the Gulf investors and stimulates some buying in late trading. Qatari shares index rose 0.8 percent, with the support of banks and real estate companies. And National Bank of Qatar gained 1.2 percent while jumping with Barwa real estate and ezdan holding 3.5 and 0.9 per cent respectively. But stocks associated with oil and gas remained under pressure, having lost share Qatar gas transport 1.7 percent and Gulf international services 1%.
In Dubai recovering some stocks but this was not enough to prevent the index from falling 2.2 percent due to sagging Emaar largest companies listed by the daily limit of 10 percent, with Tuesday is the day of decision for entitlement to cash distributions for age by 1 257 AED per share associated with the initial public offering of shares unit malls ages Moules in October. Emaar shares rose 2.7 per cent and mules ARTC 1.6 per cent and 2.2 per cent of homes. Abu Dhabi index down 0.2 percent but the Abu Dhabi National Bank shares rose 4.6 percent and shares of Aldar 3.1 per cent. In Kuwait the indicator rose 0.06 cent to 6757 points, while the Bahrain market index slightly up 0.02 per cent to MSM index slipped 1.1 percent to 6432 points.
Egyptian index lost 0.8 percent, with the decline of stock commercial bank international and EFG Hermes one per cent and 2.3 per cent respectively. Although the Egyptian stock exchange has avoided sharp declines in markets of oil-exporting countries but the negative zone almanobat perhaps overshadowed a little confidence in Cairo said Allen Sandeep Research Director of Naeem. Sandeep said that trading volume in Egypt was less than in the days when the market rose last week, indicating that the market is still betting on the ascent.