MIDEAST STOCKS-Property lifts Dubai, Saudi lacklustre on valuation concerns | Reuters:
Strong earnings by Emaar Malls lifted Dubai shares and selective buying in top blue-chip companies helped Qatar rebound from early losses, as most Gulf markets ended in positive territory.
The region’s biggest stock market, Saudi Arabia, ended flat as investors tried to digest quarterly earnings and were cautious about valuations for top companies after the index’s nearly 15 percent rise so far this year.
The Dubai index ended 0.8 percent higher, supported by property stocks after Emaar Malls reported a 15 percent rise in second-quarter net profit, broadly in line with market forecasts.
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