14.09.2015 - Abu Dhabi Stocks Rise on Etisalat as Dubai Nears Death Cross
Emirates Telecommunications Group helped Abu Dhabi’s stocks buck losses across most Gulf Arab markets two days before the company allows foreign traders to own its shares directly. Dubai’s gauge dropped closer to a so-called death cross. The government-controlled company, which is 60 percent owned by the U.A.E.’s sovereign wealth fund and has the second-biggest weighting on Abu Dhabi’s index, will allow non-U.A.E. nationals to own its shares starting Tuesday. Most other markets in the six-nation Gulf Cooperation Council reacted to a drop in oil, one of the region’s biggest sources of revenue and uncertainty over whether the Federal Reserve will raise interest rates at its next meeting...............................................Full Article: Source
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