04/02/2015
"Dubai" the most active to 2.5%
Oil supports the Gulf markets rise amid positive news for companies
Payrise ofoil pricesand positivenews aboutthe results ofsome companiesGulf stock marketstoriseyesterday, asDubai's indexjumped2.5 per centand Abu Dhabi1.4 per centandDoha1.3 per centandMuscat1.1per cent, whileBahrain andKuwait's indexrose by0.1 and0.6 per centrespectively.
In theDubaimarket index2.5 per centin light ofthe risein general, Arabtecincreasedconstruction3.7 per centafter the companyannounced that it haswon a contract worth375million dirhams ($ 102 million)ofEmaar Properties, which rose4.8per cent.
DAMACcompetitionJumpeddailymaximumof 15 per cent, extending gainsafter the companyannouncedyesterdayan increase of46 per centin profitsfor2014.
Shares ofDubai Financial Market-thecompany that manages thestock exchangeAlamarh-2.4 per cent.Increased thecompany's net profitin the fourth quarteroflast year,31per cent to138.2million dirhams,according toReuters calculationsbased onfiguresfrom the company.Global InvestmentHouse (Global)forecasta quarterlyprofit of120million dirhams.Theincreasedgeneral indexof the Abu Dhabi1.4 per cent, andDana Gassharesrose4.3 percentbefore a meeting ofthe Board of Directorstoday(Wednesday)will review thefinancial results.Thepurchasing managersshowedthe UnitedArab EmiratesindexinJanuary(January)thatprivate sector growthaccelerateddespitefalling oil prices.
TradedglobalBrent crudeoilwas above $56a barrel aftermore than15 per centincreasedsince last Thursdayinthe wake of thedata showeda sharp declinefor a number ofdrilling rigsin the United States.
AndascendedQatar's indexof 1.3 per centwith higherGulf International Servicesshares5.8 per centafter the companyannouncedincreasedannual profitsmorethan doubledandproposeda dividend of5.5riyals per sharefor2014, up from1.6riyals per sharein2013.Analystshad expected3.35per shareforlast year.
TheKuwaiti marketindexrose0.6percent to6695points.TheMSMindex rose1.1percent to6649points, while theBahrain Stock Exchangeindexrose0.1percent to1425points.
