Middle East Shares Mostly Rise, Dubai Gains on Hopes for 2020 World Expo
Middle East shares mostly advanced, with Dubai rising on bets the country will win the rights to host the 2020 World Expo.
The Expo decision is due on Wednesday.
Egypt fell to the lowest level since Nov 3 on continued political woes. Egypt will hold a referendum on an amended constitution in December, the group drafting it said on Tuesday. That contradicted a statement on Sunday by the prime minister, who said it would be held in late January.
In ADR news, Teva ( TEVA ) says the FDA granted orphan drug exclusivity for TREANDA through October 2015 for indolent B-cell non-Hodgkin lymphoma (iNHL) that has progressed during or within six months of treatment with rituximab or a rituximab-containing regimen. With the previously granted six months of pediatric exclusivity for TREANDA, regulatory exclusivity for this indication is now extended through April 2016.
Dubai's main index gained 0.5% to 2,899 points, Abu Dhabi firmed 0.5% to 3,837 points, Qatar added 0.8% to 10,353 points, Egypt lost 0.6% to 6,205 points, Saudi Arabia inched up 0.03% to 8,301 points, Oman dipped 0.4% to 6,726 points, Kuwait rose 0.5% to 7,838 points and Bahrain fell 0.02% to 1,197 points.