Dubai's measure rebounds from Wednesday's five-week low as bargain hunters return, while Abu Dhabi's top two property developers fall on investor disappointment over the slow progress of their merger talks.
Dubai bellwether Emaar Properties rises 2.2 percent to 3.66 dirhams, accounting for a one-sixth of trading
volumes as it reverses losses that took the stock to a five-week low in early trade.
"Emaar touched 3.55 dirhams, which attracted buyers," says Chahir Hosni, head of Gulf institutional sales at EFG Hermes. "We're mostly through the correction (in Dubai) and I'm positive from here until year-end. Next week, we'll be looking at global markets after the U.S. elections - the U.S. market is expected to rebound looking at futures trading and it will have an impact in the Gulf next week."
Dubai's index rises 0.8 percent to finish at 1,617 points.
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