(Bloomberg) Dubai’s benchmark stock index advanced the most among Gulf peers as real estate shares extended gains.The Dubai Financial Market General Index rose as much as 1.3%, up for a fifth day in its longest winning streak since March. The sub-index tracking Dubai-based real estate shares climbed as much as 2.4% on Sunday, touching the highest level since November 2019. Those shares are trading higher amid a residential property price rally Morgan Stanley sees lasting for years.Morgan Stanley Sees Dubai Property Rally Lasting for YearsVaccinations are “helping a lot the reopening theme from an investment case perspective,” particularly in the United Arab Emirates and Saudi Arabia, Ali El Adou, head of asset management at Daman Investments in Dubai, said in an interview with Bloomberg TV. The UAE, a federation of seven sheikdoms including Dubai, has one of the highest inoculation rates globally.“We’re still bullish, in terms of that theme, especia
Dubai shares gain amid property recovery optimism
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Dubai shares gain amid property recovery optimism
The Dubai Financial Market General Index jumped 0.8 per cent as Emaar advanced as much as 2.8 per cent
May 10, 2021
Stocks in Dubai were among the biggest gainers across the Middle East amid optimism that Emaar Properties earnings may point to a wider recovery in the emirate.
The Dubai Financial Market General Index jumped 0.8 per cent as Emaar advanced as much as 2.8 per cent, the biggest gain on the gauge in point terms. Qatar’s main index rose 0.4 per cent, even after the country’s finance minister was ordered detained on Thursday.
May 09 2021, 7:58 PM
May 09 2021, 2:45 PM
May 09 2021, 7:58 PM
(Bloomberg)
(Bloomberg)
Stocks in Dubai were among the biggest gainers across the Middle East amid optimism that Emaar Properties PJSC earnings may point to a wider recovery in the emirate.
The Dubai Financial Market General Index jumped 0.8% as Emaar advanced as much as 2.8%, the biggest gain on the gauge in point terms. Qatarâs main index rose 0.4%, even after the countryâs finance minister was ordered detained Thursday.
Growing confidence Gulf states are on the cusp of an economic rebound is stoking speculation that property developers will be the biggest beneficiaries. Emaar Properties, which is due to release earnings results in coming days, said last month first-quarter property sales more than doubled from the same period last year. Its malls unit on Sunday reported first-quarter net income that beat the average analyst estimate.
Saudi Stocks Rise on Earnings Optimism, Iran Talks: Inside EM msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Saudi Stocks Rise on Earnings Optimism: Inside EM
Bloomberg 2 hrs ago
Saudi Arabian stocks led gains in the Middle East as better-than-expected earnings fueled investor optimism and talks between Iran and the U.S. to end a years-long standoff progressed.
Share indexes in Dubai, Israel and Egypt also climbed while those in Abu Dhabi, Kuwait, Qatar and Oman fell. Bahrain’s index was little changed.
The recovery in corporate earnings comes at a time when renewed efforts to address long-standing regional enmities are lifting investor sentiment. World powers advanced efforts to revive a 2015 nuclear accord between Iran and the U.S. during weekend negotiations in Vienna. Meanwhile, senior officials from Saudi Arabia and Iran have been holding talks to repair relations between the two countries, the Financial Times reported.