Abu Dhabi Stocks Lead Mideast Gains After Global Rout: Inside EM

Stocks in Abu Dhabi rallied, leading gains among Middle Eastern markets that rebounded from last week’s slump on concern about the spread of the omicron variant of Covid-19.

“We are still in the market. We like the region,” specifically the United Arab Emirates and Saudi Arabia, Ali El Adou, head of asset management at Daman Investments in Dubai, said in an interview on Bloomberg TV. “High vaccination rates is an additional point that gives us a bit of calmness to the market.”