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Dubai stocks surged with real estate flying high on earnings, while Qatar Exchange jumped to its best day in a year after the Cabinet gave the go-ahead for foreigners to own the entire capital of publicly trading companies. Dubai Financial Markets soared 1 per cent to trade at 2,599 points after real estate outperformed as investors received one more cue that property companies are returning to the growth path. Deyaar Development announced a surge in quarterly profits to Dh15.1 million, up from Dh2.6 million reported for the first three months last year. Its topline jumped 51 per cent to Dh149.2 million for the same period. ....
MSM index ends marginally higher By: United Securities Muscat: The MSM index closed at 3,606.12 points, up 0.08 per cent from previous close. The Sharia Index ended up 0.48 per cent at 536.71 points. Omanya F.B 2020 Insurance, up 38.00 per cent, was the top gainer, while Al Oula Company, down 50.00 per cent, was the top loser. Shares of Al Madina Investment was the most active in terms of number of shares traded and Bank Muscat was the most active in terms of turnover. A total number of 484 trades were executed during the day s trading session, generating turnover of OMR1.25 million, with more than 10.7 million shares changing hands. Out of 42 traded stocks, 16 advanced, 7 declined and 19 remained unchanged. At the session close, local investors were net sellers for OMR340,000 while GCC & Arab investors were net buyers for OMR300,000 followed by foreign investors for OMR40,000 worth of shares. ....