"Gulf bourses rose yesterday as investors triggered a fresh buying spree at the start of the third quarter, and expectations of a strong earnings season in coming weeks boosted stocks in the United Arab Emirates.
Dubai’s index climbed 2.5% to a one-week high, extending 2013 gains to 40.4%. Trading volumes improved compared to recent sessions, but remained unimpressive.
“UAE markets started the quarter in a positive note — investors are betting on strong and solid Q2 numbers, they don’t want to miss the bottom after the major drop we have witnessed last week,” said Mohab Maher, senior manager of the institutional desk at Mena Corp brokerage."
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