Global fund flows and supportive fundamentals to benefit Gulf markets | GulfNews.com:
"Equity markets in the Gulf Cooperation Council (GCC) will continue to benefit from increased global investment inflows, and specifically from active global emerging market funds, Bank of America Merrill Lynch officials said in Dubai on Thursday.
Sound economic fundamentals combined with strong earnings growth in 2013 have put many markets in the region in a strong position.
“The UAE has emerged as the world’s second-best performing market with year-to-date [YTD] increase of 61 per cent and 2013 earnings growth estimates rising by around 100 basis points to 9.6 per cent. Meanwhile, Saudi Arabia was ranked as a top 10 market performer with YTD increase of 21 per cent, and similarly Qatar performing equally well with YTD increase of 22 per cent,” said Michael Harris, Managing Director and Head of EEMEA Equity Strategy."
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