By: Mahmoud Gamal
Dubai – Mubasher: UAE stocks started to regain investors’ confidence, amid higher liquidity driven by positive news on Emaar Properties and Dana Gas.
The UAE bourses managed to absorb the negative impact of some geopolitical events that are continuing, backed by a higher liquidity level, capital market analyst Osama Al Ansari said.
The markets’ rebound was mainly backed by higher confidence in the UAE economy, in addition to Emaar’s plan to offer up to 30% of its UAE property development business through an initial public offering (IPO) on Dubai’s bourse, along with Dana’s recent receivable from Egypt, the analyst added.
The rise of the UAE markets, despite the decline of oil prices by 7%, is a positive signal, Al Ansari added.
Emaar’s stocks saw purchases by local and foreign investors following its IPO plan; thus, supporting Dubai’s bourse, financial analyst Wadah Al Taha said.
Translated by: Julian Nabil
