Business | Markets
Channel Sponsor
UAE markets buck global trend to close higher for the second day
The UAE stock markets, bucking the US and other global markets, were up for the second day in a row this week, with the Dubai Financial Market index gaining 1.69 per cent to close at 1488.64 and the Abu Dhabi Securities Exchange Index advancing 1.76 per cent to 2252.60.
- By Gaurav Ghose, Financial Features Editor
- Published: 15:18 February 11, 2009
Dubai: The UAE stock markets, bucking the US and other global markets, were up for the second day in a row this week, with the Dubai Financial Market index gaining 1.69 per cent to close at 1488.64 and the Abu Dhabi Securities Exchange Index advancing 1.76 per cent to 2252.60.
The DFM gain was led by real estate and financials, with Arabtec soaring 14.71 per cent to Dh1.17, Emaar climbing 2.55 per cent to Dh2.01 and Dubai Financial Market jumping 13.98 to Dh1.06.
The rise in Abu Dhabi was led by energy stocks and real estate. Abu Dhabi National Energy Co., also known as TAQA, announced earlier on Wednesday an 89 per cent jump in yearly profits to Dh2 billion. The basic earnings per share grew from 25 fils to 39 fils.
Aldar Properties and Sorouh Real estate closed 4.82 per cent and 3.96 per cent higher respectively.
Share this article
More from Markets
More from Business
Popular in Business
-
Budget travel
Airlines in the region
Take a pictorial look at some of the budget airlines in GCC
Business Editor's choice
-
Cafe Nero's premium coffee blends
UK chain plans to open 50 outlets in region following UAE launch
-
Emirates to fly direct to Tokyo
Airline considers code-share deal with JAL after adding second destination in Japan
-
Work on world's longest sea crossing
The proposed Qatar-Bahrain causeway project is estimated to cost Dh9.9 billion
