MIDEAST STOCKS-Dubai underperforms in sluggish region, rate cut boosts Egypt:
"Dubai’s stock market again underperformed in a sluggish Gulf on Sunday while local institutional investors boosted Qatar and Egypt rose after an interest rate cut at the end of last week. Slumping real estate prices have weighed on Dubai’s bourse in recent months, and mostly mediocre fourth-quarter earnings released in the past fortnight have worsened liquidity. Meanwhile, some fund managers say money is already rotating out of Dubai to Saudi Arabia, which is anticipating an upgrade to emerging market status by index compiler MSCI and the listing of oil giant Saudi Aramco late this year."
'via Blog this'
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