Wednesday 24 September 2014

MIDEAST STOCKS-Emaar lifts Dubai ahead of pricing malls unit IPO | Reuters

MIDEAST STOCKS-Emaar lifts Dubai ahead of pricing malls unit IPO | Reuters:



"Emaar Properties, Dubai's largest listed developer, helped lift the emirate's market on Tuesday on expectations that it would float its malls unit at the upper end of the announced price range because of strong demand.



Other regional markets were mixed. There was no impact from the news that the United States and Arab allies including Saudi Arabia, the United Arab Emirates and Qatar had participated in or supported the first joint bombing of Islamic State fighters in Syria.



Credit default swaps and currency forwards in the region did not move significantly; most investors decided weeks ago that the Gulf economies were able to insulate themselves from the turmoil in Iraq and Syria."



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