U.A.E. Stock Market Bulls Find a Friend in Bank of America Merrill Lynch - Middle East Real Time - WSJ

U.A.E. Stock Market Bulls Find a Friend in Bank of America Merrill Lynch - Middle East Real Time - WSJ:

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European Pressphoto Agency

Dubai’s main stocks gauge has gained about 80% this year.

Stock markets in the United Arab Emirates could move higher even after posting some of the best returns in the world so far this year, according to analysts at Bank of America Merrill Lynch.

Dubai’s main stock index is up by about 80% year-to-date, while neighboring Abu Dhabi’s is up around 46%. A rebound across the Arab Gulf has taken hold this year after a drawn-out period of declines in the wake of the financial crisis. Some analysts see Dubai’s particularly fast recovery as underpinned by better performance in the underlying economy, while others have raised concerns that the market is overheating."

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