Where will you find the cheapest stocks in the world? Dubai, according to Bloomberg News data.
The Dubai Financial Market General Index’s 13 percent drop this year has left it valued at 0.6 times book value, a 67 percent discount to the global average and the least since Bloomberg began compiling the data four years ago.
The DFM index trades for 5.7 times analysts’ 12-month earnings estimates, the lowest level worldwide and 30 percent below the average of 8.1 times during the past four years, according to data compiled by Bloomberg. Companies in the index pay dividends amounting to 4.1 percent of their share prices, almost double the 2.2 percent dividend yield on the MSCI Emerging Markets Index.
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