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Tuesday, 13 June 2017

MIDEAST MONEY-Property, minority holders keep Dubai stocks down despite positives | Reuters

MIDEAST MONEY-Property, minority holders keep Dubai stocks down despite positives | Reuters:

"Stocks are cheap and the economy
is booming, but Dubai's equity market may not recover from a
severe slump until it has overcome two weaknesses: its exposure
to weak property prices, and gloom among minority shareholders
who have little say in listed firms.

With the exception of Qatar, which has plunged this
month because of the embargo imposed on it by other Arab states,
Dubai has been the worst-performing major stock market
in the Middle East over the past 12 months.

Its index is up only 2.7 percent from a year ago,
underperforming markets such as Kuwait, which is up 24.9
percent, and even Saudi Arabia, which has been hit hard
by low oil prices but is still 3.8 percent higher."



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