MIDEAST STOCKS-Banks lift Dubai, most Gulf markets gain modestly | Reuters:
Dubai’s stock market rose sharply early on Thursday, boosted by banks and property stocks, while most other Gulf markets gained by much more modest margins.
The Dubai index climbed 1.3 percent as the largest bank in Dubai, Emirates NBD, jumped 4.5 percent to 9.35 dirhams in unusually heavy trade. Many analysts consider it undervalued; 11 analysts covering the stock have a median target price of 13.20 dirhams, according to Thomson Reuters data.
ENBD’s unit Emirates Islamic on Tuesday said it would launch mortgages to help non-residents buy property in the United Arab Emirates.
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