MIDEAST STOCKS-Emaar sends Dubai higher; other markets have mixed fortunes | Reuters:
"Dubai’s stock market extended its rally on Monday, backed by solid gains from property developer Emaar, whereas other markets in the region closed mixed amid muted trading and profit taking ahead of the Eid holiday. The Dubai index jumped 1.4 percent, continuing its rally since the emirate announced a series of initiatives to reduce corporate costs and stimulate growth. The index’s main support came from a 4.1 percent jump by property developer Emaar and a 1.2 percent rise by Dubai Islamic Bank which rallied for the second session in a row after its 5.1 billion dirham rights issue was nearly three times oversubscribed."
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