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Dubai Ports (DP) World rebounds at Nasdaq Dubai

05 July 2010

Bargain hunters sent shares of Dubai Ports (DP) World up as the fourth largest port operator closed 2.19% higher at $0,42 on high volumes. More than 15.7m DPW stocks changed hands. Gobal interior designer Depa lost 1.37% and closed $0.72. EFG Hermes reiterated its buy rating on Depa. "We are positive on Depa's offer to acquire the remaining shares in Design Studio (DS) (in Singapore), in which it already owns a 24.72% stake", Jad Abbas from EFG Hermes said. The offer has been done by Depa on June 28. "Our view is, that the 11 July DFM-NASDAQ Dubai platform integration will boost the stock's liquidity support our Buy rating", he added. Depa shares gained over 55% in value since the start of 2010.

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