Shares in Dubai's Emaar Properties rise in early trade after its Saudi unit posted a surge in 2012 earnings, helping lift the emirate's bourse, while Qatar falls to its lowest level in three weeks.
Emaar rises 1.8 percent to AED5.12, accounting for half of all shares traded. The stock matches the 51-month high hit on February 11.
"Waiting for a retracement lower towards the 4.75 support level, or alternatively the confirmed break of the 5.15 resistance level, in order to reinstate 'long' (buy) positions," MENA Corp says in a note.
Saudi-listed Emaar Economic City said its net income for 2012 jumped 129 percent as sales increased.
Read more: http://www.arabianbusiness.com/emaar-lifts-dubai-qatar-falls-three-week-low-490673.html
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