Dubai Market ends the week positively

10 June 2010

With a plus of 0.10% and an advance decline ratio of 14 to 10 (three shares ended flat), the DFM Index closed the week at 1,514.23 points. District cooling specialist Tabreed rebounded 3.67% and finished at Dhs0.367. Tabreed is currently in talks with its creditor banks to restructure Dhs5.4bn in debt. End of May, shareholders gave approval for Tabreed, whose stocks declined by 44.44% in the last six months, to raise up to Dhs4.2bn in bonds or Sukuk. Weak performing banks weighed in the DFM, with Dubai Islamic Bank posting one of the largest losses among them (down one percent at Dhs2.00).

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.