Sunday 27 March 2011

UAE, Qatar gain on confidence, foreign funds - Markets - ArabianBusiness.com

Dubai's index DFM reached a five-week closing high, with investors more optimistic that earnings will improve in 2011.

Emaar Properties climbed 1 percent, Emirates NBD rose 0.3 percent and Arabtec added 0.6 percent.

"There's been a re-rating in the UAE market, partially driven by strength in Saudi Arabia," said Walid Shihabi, Shuaa Securities chief executive.

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