Dubai market boosted ahead of earnings season

20 June 2010

Bargain hunters pushed the DFM Index after a weak start 3.31% higher to the level of 1,547.13 points. The local Dubai exchange, which performs traditionally in a much more volatile ways than other GCC markets, saw real estate bellwethers Emaar Properties (up 8.55% at Dhs3.30) and Arabtec (gaining six percent at Dhs1.94) leading the pack in relation to liquidity. Higher oil prices lifted the market, along with hopes for a recovery of the world economy triggered by strong US market which rose for two consecutive weeks. The trading value surged 158% with 178.87m shares (up 125%) changing hands.

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications