Dubai Stocks Climb to 5-Year High Before Earnings; Qatar Gains - Bloomberg

Dubai Stocks Climb to 5-Year High Before Earnings; Qatar Gains - Bloomberg:



"Dubai’s stock index, the world’s best-performer this year, advanced to the highest in more than five years as first-quarter earnings expectations spurred investor sentiment. Qatar also gained.



The DFM General Index (DFMGI) rose 1.3 percent to 4,438.35, the strongest close in the Emirate since September 2008. Shuaa Capital PSC, the investment bank controlled by Dubai’s ruler, surged 5.6 percent. Qatar’s gauge increased 0.7 percent, the strongest close in almost three weeks.



Dubai’s 4.9 percent economic expansion in 2013 helped companies in the emirate to boost their earnings. Shuaa returned to profit last year after making losses since 2008. The DFM Index has advanced 32 percent this year, making it the top performer among more than 90 indexes tracked by Bloomberg.



“We should expect some positive surprises in terms of earnings for first quarter and investors want to be positioned before that,” Sebastien Henin, head of asset management at The National Investor, said by phone from Abu Dhabi. The market is continuing “positive momentum” from the last week, he said."



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