Dubai Stocks Lead Middle East Gains as Traders Seek Dividends
- Emaar Properties leads rise in Dubai’s DFM General Index
- Tadawul starts new industry classification for stocks
Dubai Stocks Lead Middle East Gains
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Dubai stocks gained the most in the Gulf, led by Emaar Properties PJSC, as investors hunt for dividends ahead of earnings season. Insurers in the emirate rose on merger speculation.
Emaar Properties, which accounts for about 22 percent of the DFM General Index, climbed 1.6 percent as analysts see the stock handing investors a dividend of 18 fils per share for 2016, according to data compiled by Bloomberg. Dubai’s gauge advanced for a sixth day, the longest streak since July, adding 1.8 percent on Sunday.