MIDEAST STOCKS-Property firms buoy Dubai; Saudi rallies a bit, Egypt continues slide | Reuters:
"Real estate-related shares led Dubai's stock market higher on Monday while Saudi Arabia rose modestly because of higher oil prices. Heavy profit-taking, fuelled by weak economic data, continued to weigh on Egypt.
The Dubai stock index climbed 1.2 percent, buoyed in part by last week's poor U.S. jobs data, which appeared to reduce chances that the U.S. Federal Reserve would hike interest rates anytime soon.
Gulf economies will probably imitate U.S. monetary policy because of their currency pegs, and a delay to tightening is positive for the interest rate-sensitive real estate firms which are weighted heavily in Dubai."
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