Dubai’s index ended the longest losing streak since March as investors stepped in to buy shares after six days of losses left stocks at a five-week low.
Emaar Properties PJSC, the United Arab Emirates’ biggest developer, gained the most in more than two weeks. Arabtec Holding Co., the U.A.E.’s biggest construction company, jumped the most in more than a week. The DFM General Index advanced 1.5 percent to 1,698.86 at 12:50 p.m. in Dubai. Qatar’s DSM 20 Index rose 0.8 percent.
“We are seeing some bargain-hunters picking up certain names,” said Julian Bruce, director of equity sales at EFG- Hermes Holding SAE, the biggest publicly traded Arab investment bank. Gains may be short-lived, he said, as “everybody is still cautious ahead of full-year numbers, so it’s unreasonable to expect a stampede of buyers at this stage.”
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