MIDEAST STOCKS-Dubai's Emaar surges ahead of unit's IPO; most markets rise | Reuters:
"Bourses in the United Arab Emirates and Qatar rebounded on Sunday while Dubai developer Emaar Properties surged after the firm said it would launch an initial public offer for its malls unit next month.
Stock markets in both countries had dipped in the previous session as passive funds tracking MSCI's frontier market index liquidated part of their holdings of UAE and Qatari stocks. MSCI upgraded the UAE and Qatar from frontier to emerging market status in May and arranged for frontier funds to exit those countries through a series of monthly sales, one of which took place at the end of last week.
Qatar's bourse, which dropped 3.1 percent on Thursday, bounced 1.1 percent on Sunday as stocks that were the main drags in the last session became the main supports."
'via Blog this'
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