Dubai Shares Advance to 2-Month High on Earnings Expectations
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Dubai shares rose to an almost two-month high on bets quarterly profits will beat expectations and as the emirate’s bonds climbed to the highest on record last week after Dubai World and creditors signed a debt accord.
Egypt’s EGX 30 Index dropped 1.4 percent as protesters clashed with security forces over the weekend. The DFM General Index climbed 0.9 percent to 1,569.8, the highest since Feb. 16, at the 2 p.m. close in Dubai. The Bloomberg GCC 200 Index of the region’s stocks gained 0.3 percent and Abu Dhabi’s index rose 0.4 percent. Emaar Properties PJSC, builder of the world’s tallest tower, advanced 1.3 percent. Emirates NBD PJSC, the United Arab Emirates’ biggest bank by assets, rallied to the highest since 2009.