Banking, property shares drive UAE higher


Abu Dhabi Securities Exchange   -   ADX Index
3,564.20 50.03 1.42%
Dubai Financial Market   -   Dubai Financial Market Index
2,352.21 56.20 2.45%
13/06/2009 00:00 AST  www.business24-7.ae
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ETISALAT
12 0.05 0.41%
 
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15.2 -0.10 -0.66%
 
EMAAR
5.97 0.20 3.46%
 
EMIRATESNBD
5.85 0.03 0.51%
 

Banking and real estate stocks lead UAE bourses to close higher with National Bank of Abu Dhabi surging 7.5 per cent and Dubais Union Properties gaining 8.7 per cent. First Gulf Bank climbs 8.5 per cent as Abu Dhabis bourse rises 1.02 per cent to 2,867 points.

Banks in the UAE are stable and liquidity in the financial sector is excellent, a UAE ministerial committee charged with helping the state navigate the financial crisis, said on Wednesday.

Deutsche Bank gave Union Properties and Deyaar a hold rating in a report on Wednesday. Deyaar rises 4.49 per cent.

Dubais index advanced 1.04 per cent to 2,098 points.

Emirates NBD gains 4.8 per cent.

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