DUBAI: Bourses in the United Arab Emirates, Qatar and Egypt pulled back yesterday as investors booked profits after solid gains and a strong earnings season.
Qatar’s benchmark slid 0.3 percent on marginally lower volume compared to the previous session. Qatar Gas Transport Co (Nakilat) was the main drag, falling 3.2 percent. Qatar National Bank fell 0.8 percent and Barwa Real Estate was down 2.1 percent despite announcing a $2bn Barwa City project sale to the state welfare fund.
Dubai’s benchmark fell 1.3 percent after rising in the four previous sessions, as most real estate stocks retreated while trading volume slightly increased compared with Tuesday. Egypt’s bourse slipped 0.5 percent as investors sold some of last month’s top-performing stocks. Reuters
