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DFM gains on China manufacturing data
DUBAI — Dubai’s benchmark stock index gained the most in almost a week as oil advanced after a Chinese manufacturing index signalled the economic slowdown may be easing in the world’s second-largest crude consumer.
The DFM General Index rose 0.8 per cent, the biggest gain since July 18, to close at 1,505.02 points. About 45 million shares traded in Dubai compared with a 12-month daily average of about 138 million.
Abu Dhabi’s ADX General Index slipped 0.2 per cent to close at 2,464.49 points. The Bloomberg GCC 200 Index slipped 0.2 per cent at 1:17 pm in Riyadh. Emaar Properties rose 1.6 per cent and Arabtec Holding advanced the most in almost a week.
Mashreqbank, on Sunday posted a 12 per cent increase in second-quarter profit as bad-loan provisions dropped. Quarterly profit at Emirates NBD, beat estimates even after a 13 per cent decline. The shares closed unchanged on Tuesday. Emaar advanced the most since July 16, gaining to Dh3.21.
Arabtec increased the most since July 18, advancing 0.7 per cent to Dh2.90. Qatar’s QE Index slipped 0.2 per cent. Kuwait’s gauge decreased 0.4 per cent, Bahrain’s measure fell 0.1 per cent and Oman’s MSM30 Index decreased 0.5 per cent. Saudi Arabia’s Tadawul All Share Index was little changed.
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