Dubai Shares Enter a Bull Market as Oil Rise Fuels Gulf Rally
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Dubai’s stocks entered a bull market in the biggest two-day gain in the gauge’s history as oil rebounded and global equities rallied. Qatar’s main index also surged.
The DFM General Index climbed 9.9 percent to 3,765.35 at the close, advancing 24 percent since Dec. 17. The gauge entered a bear market less than two weeks ago as it plummeted 22 percent from a peak in September. Emaar Properties PJSC led today's gains with a 14 percent increase. Qatar’s QE Index rallied 7.6 percent, the most in more than five years. Abu Dhabi’s ADX General Index added 3.5 percent.