Dubai market rises to 1,500.15 points

23 August 2010

Thanks to a last-hour surge the DFM General Index closed 0.57% higher at 1,500.15 points. News that state-owned real estate developer Nakheel paid off Dhs2.5bn of debt (Gulf News reported) spread some form of optimism. Bellwether Emaar added 1.23% at Dhs3.29. Nasdaq Dubai-listed DP World closed flat at $0.50. Financial shares ended on a mixed note. Bank Emirates NBD finished 1.64% higher at Dhs2.48, while Shuaa Capital weakened four percent at Dhs0.912. Traded volumes declined by 17% to 37.34m shares changing hands.

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