Trading was heaviest in stocks which retail investors believe would benefit most from Dubai hosting the expo
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Gulf stocks were mixed as trading slumped in advance of the holy month of Ramadan, when business across the region slows.Dubai's DFM General Index advanced 0.7 percent at the close and Abu Dhabi's ADX General Index climbed 1 percent. The Bloomberg GCC 200 Index, which tracks 200 of the largest and most liquid stocks in the six-state Gulf Cooperation Council, was little changed as of 1:42 p.m. in Riyadh, while Saudi Arabia's Tadawul All Share Index slipped 0.4 percent. The number of shares trading on Dubai's index was 55 percent below the 20-day average.Even though Eshraq Properties Co.'s price was unchanged, 89 million shares changed hands, more than any other company across GCC stock indexes.Mobile Telecommunications Co., the company known as Zain Saudi, jumped 9.4 percent, the most in more than two months.
FOLLOW THIS ARTICLE