According to an opinion piece in the Gulf Business, US monetary policies, China, currency trends, volatility, earnings momentum and geopolitics will define the performance of emerging markets in the next year.
The article went on to note that the free fall in Arabtec triggered a significant correction in the Dubai Financial Market (DFM) in June 2014, amplified by margin call selling, pre- summer/Ramadan profit taking, the escalation of the Iraqi sectarian civil war and concern about earnings results.
However, Emaar Properties’ sale of 25% of its shopping mall and retail business in an IPO will be a seminal event in the UAE stock market this autumn. Emaar’s land bank in the UAE, the prospect of a post IPO special dividend, retail’s strategic importance to the Dubai economy (20% of GDP) and a valuation rerating based on its new hybrid developer/REIT model makes the article writer optimistic on its shares.
To read the whole article, What Next For Emerging Markets?, go to the website of Gulf Business.
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