The twin exchanges of the United Arab Emirates — Dubai Financial Market (DFM) and Abu Dhabi Exchange (ADX) — have had a positive start to 2013, particularly when compared to overall emerging markets trends. From the opening on January 2 until close on February 25, the MSCI Emerging Markets Index (MXEF) — the world’s most prominent emerging markets index — retreated by around 2 percent. In contrast the UAE benchmark indices soared in the same period: the ADX added 14.2 percent and the DFM’s rise was just a decimal short of 20 percent. Juxtaposed with the troubles in emerging markets, which analysts saw linked to weaker prospects for exports to the United States and European Union, the gains of both ADX and DFM make the UAE equity markets look their strongest in years. Riding the real estate The most exciting stocks to watch in the UAE over the period were
