Dubai stock market rises sharply

Abu Dhabi: A strong rally in UAE markets yesterday drove the value of listed companies up by more than Dh12 billion, especially in Dubai, where the value of traded shares exceeded Dh3.34 billion.

The Dubai Financial Market's (DFM) general index recovered by almost 2.5 per cent to 5,866.83 on account of the strong gains recorded by Emaar Properties, its largest listed company in terms of market capitalisation.

The developer recouped 6.61 per cent of its earlier losses to close at Dh12.10, recovering Dh2.57 billion of its market value.