Dubai index hits over a decade high again; most Gulf shares down – Markets

Dubai’s benchmark stock index surged to its highest level in more than a decade on Thursday, while most other markets in the Gulf were muted as investors braced for fewer rate cuts by the U.S. Federal Reserve next year.

The Dubai index rallied for a third straight session, up 0.6% at 5,112, its highest in 10 years and three months. Dubai Electricity and Water Authority rose 1.5% and Emaar…