MIDEAST STOCKS-Gulf rises on strong oil; Dubai tests chart barrier | News by Country | Reuters:
"Gulf stock markets rose moderately in early trade on Wednesday after oil prices jumped overnight, although modest trading volumes on the bourses showed many investors remain wary of the longer-term direction.
Dubai's stock index was up 1.0 percent at 3,694 points after an hour, testing technical resistance around 3,700 points, which capped it repeatedly in September. Any break of its recent range would point it up to around 3,900 points.
Real estate developer DAMAC surged 4.0 percent and was the market's most heavily traded stock after the company said it was starting a month-long roadshow to showcase its portfolio and promote Dubai as investment destination; it will attend events and exhibitions in India, Britain and Kenya."
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