MIDEAST STOCKS-Dubai continues climb on Expo bets, Egypt up on referendum | Reuters:
"* Arabtec jumps 3.3 pct on Expo contract hopes
* Emaar firm despite possible bond conversion into shares
* Political, economic optimism boosts Egypt
* PetroRabigh soars 10 pct on support from parents
* Kuwait index sinks to test 200-day average
By Andrew Torchia
DUBAI, Dec 15 (Reuters) - Most major Arab stock markets rose on Sunday as bets related to the Expo 2020 world's fair boosted Dubai to a fresh five-year high, while Egypt rose after the government announced a date for a referendum on the country's new constitution.
Mubasher Financial Services said in a report that Arab markets were benefiting from "a rerating against the backdrop of strong economic growth and abundant liquidity".
It predicted further gains next year, particularly in Egypt - provided that political stability is restored - and in Qatar and the United Arab Emirates; those two countries will be upgraded by MSCI to emerging market status next May."
'via Blog this'
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