MIDEAST STOCKS-Gulf markets benefit from improved global backdrop | Reuters:
"* UAE markets surge as all regional bourses gain
* Dubai, Abu Dhabi boosted by property boom, strong earnings
* Arabtec climbs after announcing diversification plans
* Qatar attracts dividend-hunters
* Saudi Arabia slowed by crackdown on illegal labour
By Olzhas Auyezov
DUBAI, Feb 9 (Reuters) - A favourable global backdrop lifted all major stock markets in the Middle East on Sunday while strong earnings and positive newsflow from the property sector put bourses in the United Arab Emirates ahead of the pack.
Abu Dhabi's index surged 2.2 percent and Dubai's measure was up 1.1 percent, both aided by property and related sectors as well as small-cap stocks which are popular among retail investors.
"Part of it obviously was due to a good lead from the international markets," said Amer Khan, fund manager at Shuaa Asset Management. Global equity markets surged on Friday as investors set aside any fear of economic softness after a weak U.S. jobs report."
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