MARKET TALK: Most Gulf Markets End Higher; UAE Bank Stocks Shine

Thursday, Apr 04, 2013

1022 GMT [Zawya Dow Jones]--Most Persian Gulf markets end higher Thursday. Investors are largely optimistic about the region's economies and are eyeing first-quarter company earnings to better gauge valuations. Dubai's market finishes 1.4% higher at 1880.42; Dubai Islamic Bank +4.8% at AED2.18. Abu Dhabi's market rises 1.2% to 3058.81; First Gulf Bank shares end up 4.7% at AED14.50. The U.A.E. markets are still attractively valued at around 11X earnings, despite early-year gains, and sentiment around Dubai continues to improve, according to asset manager Invest AD. Doha's benchmark index is up 0.1% at 8576.86 and Kuwait ends flat at 6817.38. (nikhil.lohade@dowjones.com; Twitter: @ZDJnews)

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04-04-13 1035GMT