Strong US, Asian markets lift Dubai bourse above 1,700

06 October 2010

Stock prices and traded values rose on Wednesday at the DFM, following gains in the US and Asia, boosted by a surprise move by the central bank in Japan to lower interest rates. The DFM General Index surged 0.90% to close at 1,704.091 points. International Financial Advisors (IFA) from Kuwait jumped 14.81% to finish at Dhs0.868. The DFM share (up 1.69% at Dhs1.80) recovered from recent profit bookings as the share gained over 20% during September. Emirates NBD, the Middle East’s largest lender by assets failed to join the market’s surge and declined 0.70% to Dhs2.85. Traded value surged to Dhs394.53m as 226.85m stocks changed hands.

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