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UAE markets up in early trading on Wednesday, tracking rise in global stocks

Emaar Properties and Emirates Telecommunications Corp (Etisalat) lift UAE markets in early trading on Wednesday, taking a cue from a rise in global stocks.

  • Agencies
  • Published: 10:32 October 29, 2008
  • Gulf News

Dubai: Emaar Properties and Emirates Telecommunications Corp (Etisalat) lift UAE markets in early trading on Wednesday, taking a cue from a rise in global stocks.

Gulf bourses are set to climb on Wednesday, tracking a rise in Asian stocks on hopes the Bank of Japan and the Federal Reserve will cut interest rates.

Emaar is up 5.87 per cent, lifting Dubai's benchmark 4.29 per cent to 3,055 points. Etisalat rises 3.88 per cent and National Bank of Abu Dhabi is up 9.63 per cent.

The main Abu Dhabi index climbed 3.78 per cent to 3,401 points.

National Bank of Oman surged 8.29 per cent and Bank Muscat rose 5.2 per cent, lifting the benchmark in early trading.

The main index rose for the first time in six trading sessions and is up 3.75 per cent at 6,201 points.

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