File - An Egyptian trader talks as she monitor her screen at the stock market, in Cairo, Egypt, March 10, 2013. (AP Photo/Amr Nabil)
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Egypt's stock market climbed to a 44-month high on Tuesday after the army chief was given the greenlight to run for president, while markets in the United Arab Emirates snapped a two-session decline.Cairo's benchmark index rose 1.5 percent to 7,368 points, its highest level since May 2010 .Blue chip Emaar Properties jumped 6.3 percent to 8.24 dirhams, its highest close since September 2008, after EFG-Hermes raised its price target for the stock to 10.1 dirhams and upgraded it to a 'buy, 'citing improved sentiment toward growth stocks in the region and the strengths of Emaar's own business, which saw strong gains in leasing and hospitality revenues during the first nine months of last year.
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