Dubai bourse rebounds 0.56%

01 July 2010

Investors saw an encouraging start into the second half of 2010 as the DFM Index gained 0.56%, closing at 1,469.98 points. Global Investment House from Kuwait led the list of the winnin shares, jumping 8.33% higher at Dhs1.30. Other strong financials were Bank Emirates NBD (up 2.06% at Dhs2.48) and the DFM itself (advancing 1.40% atDhs1.45). Shuaa Capital ended flat at Dhs1.05. The Dubai-based investment bank informed the DFM today that its private equity Shuaa Partners Fund 1 has agreed a share purchase for the sale of its ca. 22% in Rotana Hotel Management Corp. which goes back to the year 2006. The offer was made to an existing Rotana Hotel Corp. shareholder. Traded value declined at the DFM by 45% to Dhs146.01m , while volumes plummeted by 61% to around 123.277m shares changing hands.

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