Middle East Shares Mixed, Dubai Drops to Lowest Since October on Profit-Taking


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Middle East shares were mixed, with Dubai succumbing to profit taking after the main index rallied more than 80% this year. Dubai shares hit the lowest level since October.

Egypt also slipped on profit taking, while Kuwaiti investors were sidelined ahead of earnings reports.

In ADR news, Teva ( TEVA ) said it reached an agreement with the Israel Tax Authority that will result in a charge of about $235 million in Q4.

Dubai's main index fell 2.8% to 2,823 points, Abu Dhabi dipped 0.9% to 3,812 points, Egypt lost 0.5% to 6,324 points, Kuwait shed 0.7% to 7,929 points, Bahrain firmed 0.1% to 1,205 points, Saudi Arabia rose 0.3% to 8,271 points, Qatar gained 0.7% to 10,047 points, Oman edged up 0.01% to 6,765 points.

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This article appears in: Investing , Commodities

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