UAE index rebounds again, Dubai up 10 per cent

Dubai: Dubai index extended gains on Sunday, jumped nearly 10 per cent at close led by Emaar Properties and Arabtec, after strong crude revived investor sentiment.

The Dubai Financial Market General Index ended 9.88 per cent at 3,765.35, after rising as much as 3,805.68. Emaar Properties gained 13.72 per cent, while Arabtec ended up 11.59 per cent.

The Abu Dhabi Securities Exchange General Index ended 3.47 per cent at 4,516.65.

Crude prices surged from the lowest closing levels since May 2009 as comments from Saudi Arabia’s oil minister added to the most volatile market in three years.