Feb 12 2012 |
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MARKET TALK: Gulf Mkts End Mixed; Etisalat Shrs Fall Post 4Q
Sunday, Feb 12, 2012
1044 GMT [Zawya Dow Jones]--Persian Gulf stock markets end mixed Sunday; global equity weakness on concerns about Greece's debt crisis weigh. The focus remains on fourth-quarter company earnings as investors gauge valuations after mostly sharp losses last year, one Abu Dhabi-based trader says. Notes caution as Greece's parliament is expected to vote Sunday on painful reform measures it must take to secure a new bailout from its international creditors. Abu Dhabi's market ends -0.4% to 2456.22; Etisalat shares slip 2.1% to AED9.17-the telco posted Thursday a 65% slide in 4Q net profit as a hefty impairment charge related to its Indian operations weighed. Dubai shares reverse intraday losses to finish +0.1% at 1488.91; the market is up about 14% since mid-Jan. Kuwait ends up 0.7% at 5904.30; while Doha's benchmark index is flat at 8686.76. Saudi shares trade flat at 6801.82. (nikhil.lohade@dowjones.com)
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
12-02-12 1052GMT
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