Dubai market saves 1,500 points support

12 July 2010

Dubai's investor community witnessed a volatile trading day and a DFM lead index finishing 0.23% lower at 1,502.81 points thanks to a last-minute rally trading volumes remained low on Monday. News that Dubai World will meet on July 22 with its creditors to go ahead with a proposed restructuring of its $23.5bn debt failed to trigger net buying in the real estate sector. Emaar Properties (off 0.61% at Dhs3.25) lost slightly, while finance bellwether Emirates NBD bank stood flat at Dhs2.50 as of the close of trading. Logistics specialist Aramex extended its step-by-step rally, closing 1.88% higher at Dhs1.63. Aramex, the Middle Eastern answer to FedEx, advanced 9.72% during the least four weeks.

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