Dubai Shares Lead Gulf Stocks Higher as U.S. Confidence Grows - Bloomberg

Dubai Shares Lead Gulf Stocks Higher as U.S. Confidence Grows - Bloomberg:



"Shares in Dubai rose to the highest level in more than two weeks following a record close for U.S. stocks last week. Qatari shares also advanced.



The DFM General Index (DFMGI) climbed 2.5 percent to 3,984.64 at 12:22 p.m. local time, its highest since Dec. 9. Qatar’s QE Index and Abu Dhabi’s ADX General Index both added 1 percent, and Saudi Arabia’s Tadawul All Share Index advanced 0.3 percent. The gauge has jumped almost 20 percent since a recent low on Dec. 16.



Data last week showed the world’s largest economy grew at the fastest pace since 2003 in the third quarter, spurring the Standard & Poor’s 500 Index to its highest close on record on Dec. 26. Dubai’s benchmark index recovered from a bear market with a 13 percent surge in the last five trading days, after markets in the six-nation Gulf Cooperation Council collapsed amid plunging oil prices."



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