MIDEAST STOCKS-Emaar lifts Dubai after credit upgrade; Sisi hopes buoy Egypt | Reuters

MIDEAST STOCKS-Emaar lifts Dubai after credit upgrade; Sisi hopes buoy Egypt | Reuters:



"* Equity analysts may become more willing to rerate Emaar



* Dubai continues climb after breaking chart resistance



* Egypt boosted by Kuwaiti newspaper report on Sisi



* QNB's Egypt unit surges on bonus share issue



* Saudi Arabia continues to lag region



By Nadia Saleem

DUBAI, Feb 6 (Reuters) - Shares in Dubai's Emaar Properties surged to a 65-month high on Thursday after the firm regained its investment-grade credit rating, while Egyptian shares rose amid a regional uptrend on expectations that the army chief would run for president.



Emaar, Dubai's largest developer, jumped 4.7 percent to 8.30 dirhams. Standard and Poor's raised its long-term rating of Emaar to BBB-minus, the lowest investment grade, from BB-plus, a confirmation that international investors have regained confidence in Dubai's property sector as it recovers from its 2008 crash. 




"The credit story is catching up with the equity story," said Sanyalaksna Manibhandu, senior analyst at NBAD Securities."



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