Monday 7 April 2014

MIDEAST STOCKS-UAE, Qatar rally; petchems, retail weigh on Saudi | Reuters

MIDEAST STOCKS-UAE, Qatar rally; petchems, retail weigh on Saudi | Reuters:



"* Real estate, bank stocks lift Dubai and Abu Dhabi



* Investors factor in first-quarter estimates



* Qatar hits highest close since June 2008



* Saudi retailers fall after Jarir Marketing disappoints



* Egypt closes marginally higher



By Olzhas Auyezov

DUBAI, April 7 (Reuters) - Property and banking stocks lifted markets in the United Arab Emirates on Monday and Qatar's blue chips rallied further, while petrochemical and retail names weighed on Saudi Arabia's bourse.



Dubai's bourse rose 1.4 percent to 4,654 points, recovering from a minor pull-back on Sunday.



Bourse operator DFM gained 0.6 percent on above-average volumes after a top Dubai economic policymaker said an agreement to merge it with the Abu Dhabi Securities Exchange had been reached in principle, although nothing had been finalised."



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