Nov 01 2012
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MARKET TALK: Gulf Mkts End Mixed; Dana Shrs Rebound on Sukuk Deal Hopes
Thursday, Nov 01, 2012
1038 GMT [Zawya Dow Jones]--Stock markets in the Persian Gulf end mixed Thursday on relatively light volumes. Dana Gas shares end 2.4% higher at AED0.42, rebound from a 13% decline over the past two days, despite the company saying it failed to pay back a $920 million Islamic bond that came due Wednesday. "Investors reckon that the company and its creditors will eventually reach a deal and hence some bargain buying in the stock today," says the head of a big Abu Dhabi-based brokerage firm. Abu Dhabi's market ends flat at 2673.44; Dubai shares are up 0.2% at 1623.20 and Doha's benchmark index rises 0.7% to 8603.62. Kuwait's market falls 1.9% to 5655.43; investors cautious following violent clashes that continued through the night between riot police and protesters. (firstname.lastname@example.org; Twitter: @ZDJnews)
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