MIDEAST STOCKS-UAE, Qatar up on FTSE index review; Medinet Nasr lifts Egypt | Reuters:
"An influx of foreign funds due to changes in some FTSE indexes boosted stock markets in the United Arab Emirates and Qatar on Thursday, while Egyptian real estate developer Medinet Nasr surged after announcing an ambitious sales target.
Dubai's main index rose 2.3 percent as Emaar Properties, the emirate's largest developer, jumped 5.0 percent to 11.60 dirhams.
Emaar had peaked at 12.00 dirhams this month after announcing the launch of the initial public offer of its subsidiary Emaar Malls Group (EMG). But the stock then came under pressure as retail investors sold some of their holdings in the parent company in order to raise cash for purchases of EMG. That wave of selling appears to have ended."
'via Blog this'
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