UAE stocks rise, Dubai outperforms on first trading day of 2021 ...Egypt

(Reuters) – Stock markets in the United Arab Emirates rose in early trade on Sunday, starting 2021 on a positive note in line with the country’s economic forecast and eclipsing a recent record jump in COVID-19 cases. The International Monetary Fund expects the country’s economy to swing back to growth of 1.3 percent this year from a 6.6 percent contraction in 2020. The UAE recorded its fourth straight record number of daily coronavirus cases since the pandemic began, reporting 1,963 cases on Saturday Dubai’s index gained 0.8 percent, boosted by real estate and banking shares. Emirates NBD increased 1.5 percent, while Emaar Properties led the gains at property stocks, rising 1.1 percent.

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