MIDEAST STOCKS-UAE property developers’ earnings give Gulf markets a boost | Reuters:
Most stock markets in the Middle East closed higher on Sunday, reflecting a rally in global stock markets on Friday, and were also boosted by better-than-expected company results, particularly in real estate.
The Abu Dhabi index gained 0.7 percent and the Dubai index 0.6 percent, as two of the largest property developers in the United Arab Emirates posted positive fourth-quarter financial results last week that beat market expectations.
“The market is starting to rebuild confidence in earnings as a driver for sentiment,” said Arqaam Capital in a research note.
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