Abu Dhabi fund Aabar Investments said its sale of €2 billion ($2.2 billion) of bonds exchangeable into shares of UniCredit was not an exit from its investment in the Italian bank, but a way to improve its own finances.
Gulf stock markets fell sharply in early trade on Thursday after Saudi Arabia and its allies in the region launched air strikes in Yemen, escalating the military conflict there.
Dubai's index, which is the most volatile in the
Shares in Egypt's Orascom Construction (OC) started trading at $14.70 as they listed on Nasdaq Dubai on Monday, well above the initial public offer price of $14.25.
The stock then rose further to $14.75, though trading volume
Orascom Construction plans to offer 11 per cent of its shares on the Cairo bourse to raise E£1.41 billion ($185 million).
The company is being spun off from Amsterdam-listed OCI NV, which will retain its fertiliser and chemi
Turkey's Borsa Istanbul has decided to go public, it said in a statement on Tuesday, in an offering that will see the $220 billion stock exchange sell up to nearly 43 per cent of its capital.
Turkey's sole stock exchange s
Gold edged down on Friday and was heading for its biggest monthly loss since September as European shares traded near seven-year highs and upbeat US data supported expectations of a rate hike by the Federal Reserve this year.
Activist investor and major Apple shareholder Carl Icahn said the iPhone maker's stock should be trading at $216, far above its record high of $124.92 hit on Wednesday.
At $216 per share, Apple - already the world's most v
Gold rose more than two per cent to a four-month high on Thursday as European shares and the dollar turned lower after a shock move by Switzerland to abandon its three-year cap on the franc sent Europe's shares and bond yields tumbling.
Falling oil prices and a stronger dollar racked up the pressure on emerging equities and currencies on Monday, with Russia once again suffering most of the pain.
Emerging market shares fell 0.2 per cent after oil prices slid by mo
Gold rose as lower European shares boosted demand for assets perceived as safe, but the metal looked set to post its third straight weekly loss, weighed down by a strong dollar.
Spot gold was up 0.3 per cent to $1,185.70 an ounce