MIDEAST STOCKS-Robust company results boost sluggish Gulf real estate | Reuters:
Gulf markets rose in early trade on Sunday on the back of positive company results at the end of last week and they were also supported by a rally in global stock markets on Friday.
The Dubai index, up 0.8 percent, got a boost from stronger than expected fourth-quarter results for real estate companies such as Dubai’s Emaar Properties and this was also positive for the United Arab Emirates’ sluggish real estate sector.
Dubai property prices have fallen steadily since a mid-2014 peak, hurting earnings of developers and forcing construction and engineering firms to cut jobs and halt expansion plans.
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