MIDEAST STOCKS-Egypt, Qatar hit new highs, UAE markets retreat | Reuters:
"Dubai's bourse fell 1.0 percent after hitting resistance near its June high of 5,192 points.
Heavyweight developer Emaar Properties slid 1.3 percent. The stock had surged 12.7 percent earlier this week after the firm said it would float its malls in September, a move that will reward Emaar shareholders with priority allotment and a special dividend.
"Spinning off...will most likely raise the value of the Emaar Malls Group and if it is a success it could be the start of other Emaar operations also listing separately to maximise their valuations," Sachin Mohindra, senior vice president and portfolio manager at Invest AD Asset Management, said in a note."
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