MIDEAST STOCKS-UAE surges; Qatar in longest winning streak in 3 yrs | Reuters

MIDEAST STOCKS-UAE surges; Qatar in longest winning streak in 3 yrs | Reuters:

"* Dubai's Shuaa up 4 pct after swings to 2013 profit

* Qatar above 11,000 points for first time in 5 years

* Riyad Bank continues surge on Q4 earnings

* But Q4 miss knocks back Banque Saudi Fransi

* Oman's Galfar down in heavy trade on corruption verdict

By Nadia Saleem and Raya Atallah

DUBAI, Jan 13 (Reuters) - United Arab Emirates stock markets surged on Monday because of optimism towards fourth-quarter earnings, while Qatar booked its longest winning streak in over three years as it rose above 11,000 points for the first time since 2008.

Property shares led gains in Dubai, pushing the main index up 1.3 percent to a new five-year high. Union Properties surged 9.6 percent.

Shares in Shuaa Capital climbed 4.0 percent after the investment bank swung to a profit in the fourth quarter of 2013 and for the full year. It made a full-year net profit of 2.8 million dirhams ($769,000), compared to a loss of 59 million dirhams in 2012."

'via Blog this'