MIDEAST STOCKS-UAE markets pull back; Bahrain hits 3-year high | Agricultural Commodities | Reuters:
"Stock markets in the United Arab Emirates retreated from multi-year peaks on Thursday, while Saudi Arabia edged up and Bahrain's benchmark hit its highest level in three years.
Dubai's main index slid 0.9 percent in a volatile session during which was down as much as 4.0 percent. Emaar Properties was the main drag after its annual meeting on Wednesday dashed some investors' hopes for a 2013 dividend hike beyond the board's proposal; the stock fell 1.4 percent.
Other property and construction stocks also fell, with the exception of builder Arabtec Holding, whose shares were extremely volatile but closed up 0.3 percent.
Arabtec soared 10.7 percent on Wednesday after the company outlined ambitious expansion hopes and presented new projects at a major real estate exhibition in Abu Dhabi. But analysts said the stock's dynamics had become unpredictable and it had surpassed some major brokers' fair value estimates."
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