Emerging-market stocks marked a third day of gains as fears that Dubai will default subsided. The MSCI Emerging Markets Index rose 0.7 percent at 8:22 a.m. in New York, heading for its longest winning streak in three weeks. QatarÃ¢â‚¬â„¢s DSM 20 Index jumped 5.3 percent.
Mark Mobius, who oversees more than $30 billion as chairman of Templeton Asset Management Ltd., said in a Bloomberg Television interview in Hong Kong that Dubai will be Ã¢â‚¬Å“bailed outÃ¢â‚¬Â by its neighbors. Prince Alwaleed bin Talal, the billionaire Saudi investor, said Middle East economies wonÃ¢â‚¬â„¢t be Ã¢â‚¬Å“shakenÃ¢â‚¬Â by the crisis. DubaiÃ¢â‚¬â„¢s debt rescheduling will have only a minor effect on the euro regionÃ¢â‚¬â„¢s economy, LuxembourgÃ¢â‚¬â„¢s Jean-Claude Juncker said yesterday after leading a meeting of European finance ministers in Brussels.
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