Dubai Leads Mideast Gains After Stimulus, Oil; Abu Dhabi Rises - Bloomberg

Dubai Leads Mideast Gains After Stimulus, Oil; Abu Dhabi Rises - Bloomberg:



"Dubai shares advanced, led by Emaar Properties PJSC (EMAAR), as central banks from China to Europe take additional stimulus measures and oil gained. Abu Dhabi’s stocks gauge increased.



The Dubai Financial Market General Index (DFMGI) rose 1.1 percent, the most since Nov. 18, to 4,611.84 at 1:14 p.m. local time. Emaar, the developer of the world’s tallest tower, climbed 2.8 percent before tomorrow’s shareholders' meeting on its dividend payment. Dubai Islamic Bank PJSC (DIB) added 0.9 percent. Abu Dhabi’s ADX General Index advanced 0.3 percent, set for the strongest close since Oct. 9.



China, the world’s second-largest oil-consuming country, cut interest rates last week for the first time since July 2012, and European Central Bank President Mario Draghi said he will do what's necessary to raise inflation, sending the Standard & Poor’s 500 Index to an all-time high. Brent crude climbed 1.2 percent last week to $80.36 a barrel. The Middle East is home to some of the world’s biggest oil producers.

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