Dubai Shares Gain Most in Week After Stimulus, Oil; Saudi Rises - Bloomberg

Dubai Shares Gain Most in Week After Stimulus, Oil; Saudi Rises - Bloomberg:



"Dubai shares advanced the most in more than a week, led by Emaar Properties PJSC (EMAAR), as central banks from China to Europe take additional stimulus measures and oil gained. Saudi Arabia’s stocks gauge rose.



The Dubai Financial Market General Index (DFMGI) added 1.5 percent, the most since Nov. 13, to close at 4,630.13. Emaar, the developer of the world’s tallest tower, climbed 3.7 percent before tomorrow’s shareholders’ meeting on its dividend payment. Dubai Islamic Bank PJSC (DIB) added 1.6 percent. Saudi Arabia’s Tadawul All Share Index rose 1.1 percent, the most since Oct. 26.



China, the world’s second-largest oil consumer, 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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