World stocks were enjoying the view at an all-time high on Friday, lifted by a week of strong U.S. economic data and promises from the European Central Bank that cheap money will be sloshing around for years.
Major Dubai construction firm Arabtec will hold a news conference on Wednesday to respond to market rumours about the company, it said in a bourse statement on Tuesday.
The news conference will be held at the Abu Dhabi offices of
Stock markets in the UAE and Qatar bounced back on Tuesday after a steep slide over the past month made some valuations attractive again.
Fund managers said it was not clear that any extended uptrend in the markets was starting; a
Middle East funds have become more cautious about investing in equities after sharp pull-backs in some markets underlined how high valuations had left them vulnerable, a monthly Reuters survey showed.
The latest survey of 15 leadi
Gold hit a two-month high on Tuesday and silver reached its highest since mid-March as a drop in European shares after soft German economic data and a weaker dollar helped the metal build on last week's gains.
Spot gold hit a
Dubai's bourse remains vulnerable to selling pressure on Tuesday after builder Arabtec Holding said it had laid off some staff, partly confirming reports that contributed to the stock's plunge in the last session.
Uncertainty over the fate of Dubai's most heavily traded stock, construction firm Arabtec, as well as the fighting in Iraq and the approach of the Ramadan lull depressed most share markets across the Gulf on Monday.
Qatar's bourse may rebound on Sunday after two of its leading stocks slid in the last session because of a rebalancing of the FTSE frontier market index.
Meanwhile, markets in the UAE could continue their cautious recovery aft
Most markets in the Gulf continued to decline on Monday because of the conflict in Iraq, while volatile Dubai led losses as construction firm Arabtec remained in freefall.
Apart from a handful of firms with major exposure to Iraq,
With the possibility of escalating violence in Iraq, stocks in the defence sector could garner more attention next week.
The stock market and oil prices were rattled late in the week after violence in the nation escalated as a Sun