Mena stock markets hit right notes in September | GulfNews.com:
"September and August were highly volatile months for Mena markets due to concerns over the Syria conflict and a possible widening of the conflict to a regional level. As it became apparent that a military strike on Syria could be avoided and a diplomatic solution was more likely, markets recovered much of the earlier losses.
During September, Dubai put in the best regional market performance of 10 per cent followed by Egypt 7 per cent, Abu Dhabi and Saudi Arabia with 3 per cent each, while Qatar witnessed no change and Oman was the only market in negative at — 1 per cent.
Small cap stocks in Dubai such as Union Properties (+56 per cent m-o-m) and Deyaar development (+41 per cent m-o-m) rose significantly on the back of new property launches. A notable event during the month was Dubai Land Department’s decision to increase property transfer fees to 4 per cent from 2 per cent in an attempt to curb property speculation."
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