UAE ranks world?s second best performing market

Earnings growth estimates of the UAE also surged by around 100 basis points to 9.6 per cent, the bank said in a research report titled, ?Frontier EMEA Equity Market Monitor: Frontier leads GEM on flow, earnings and valuation.

BoA Merrill Lynch said GCC equity markets would continue to benefit from increased global investment inflows, and specifically from active Global Emerging Market (GEM) funds.

While the UAE has emerged as the world’s second best performing, Saudi Arabia was ranked as a top 10 market performer with year to date increase of 21 per cent. Qatar performed equally well with year to date increase of 22 per cent, said Michael Harris, managing director and head of EEMEA Equity Strategy.

“Along with Saudi Arabia, the UAE equity market could inevitably be a structural winner in the long term. Saudi Arabia being the GCC’s biggest economy, there is a lot to benefit when the capital market opens up in the kingdom. Regionally, there will also be far reaching positive implications of the MSCI EM upgrade for the UAE and Qatar,? said Harris.

via UAE ranks world?s second best performing marketUAE – The Official Web Site – News.

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