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


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(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.
FILE PHOTO: A man stands at the stock market, in Dubai, United Arab Emirates, November 5, 2020. REUTERS/Abdel Hadi Ramahi
The International Monetary Fund expects the country’s economy to swing back to growth of 1.3% this year from a 6.6% 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%, boosted by real estate and banking shares. Emirates NBD increased 1.5%, while Emaar Properties led the gains at property stocks, rising 1.1%. ....

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