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MIDEAST STOCKS-UAE, Kuwait may move little as investors lack news
June 28, 2017 / 5:44 AM / 3 months ago

MIDEAST STOCKS-UAE, Kuwait may move little as investors lack news

DUBAI, June 28 (Reuters) - Stock markets in the United Arab Emirates and Kuwait may move little in thin trade on Wednesday as they return from three days of Eid al-Fitr holidays lacking fresh news to change prices.

Brent oil futures are at $46.54 a barrel, up 5 percent from a seven-month low hit on June 21 but still well below the one-year average of $50.80.

The Qatar crisis remains stalemated with no clear sign of progress towards a resolution.

Dubai-listed GFH Financial, which is frequently traded by short-term retail investors, may attract some interest after it agreed to exit part of its real estate portfolio, which it said had an “approximate value” of $55 million. The book value of the asset is $20 million, it added.

Markets in Riyadh and Doha remain closed and will resume trading on July 2. (Reporting by Celine Aswad; Editing by Andrew Torchia)

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