Dubai’s Shares Surge Most in Months


19/02/2012 20:56 AST

Dubai’s shares surged the most in almost a year on investor confidence debt-burdened companies in the emirate will meet payment obligations without government support and as quarterly earnings beat estimates.

Emaar Properties PJSC (EMAAR), developer of the world’s tallest skyscraper whose fourth-quarter profit topped expectations last week, advanced the most in almost a month.

Dubai Islamic Bank PJSC (DIB), the United Arab Emirates’ biggest lender complying with Shariah rules, rallied 3.3 percent. Dubai’s DFM General Index (DFMGI) advanced 3.6 percent, the most since March 13, to 1,571.09 at the 2 p.m. close in the emirate. The Bloomberg GCC 200 (BGCC200) Index rose 0.8 percent.

There has been “increasing positive sentiment with Dubai entities saying debt will be repaid without government assistance,” said Julian Bruce, director of institutional sales trading at EFG-Hermes Holding SAE in Dubai. With “full-year earnings looking much more healthy and some companies recommencing dividend payments,” trading volume has also improved, he said.

For more on this Click Here

Bloomberg
Market News
2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | News Archive
Most Viewed Companies
Ticker Price Volume
QNBK 143.8 312,074
SABIC 95.98 4,534,377
MMG 12.55
STC 66.9 212,948
DU 5.58 788,634
ORDS 103.8 74,035
GFH 0.62 131,131
Recent News

Sterling rebounds vs euro as political worries ebb
Sterling clawed back some ground against the euro on Wednesday, recovering from a two-week low, as a perception that political risk had faded drove investors to buy the pound after taking their bets

Brazil real weakens on fiscal jitters, Trump tax plan eyed
The Brazilian real weakened on Wednesday after lawmakers voted to water down the austerity demands in a states debt relief bill, fueling concerns over the government's fiscal agenda.

The

Muscat bourse recovers on buying support
Shares on the Muscat bourse recovered amid better investor sentiment on Wednesday. The MSM30 Index advanced by 0.80 per cent to close at 5,510.18 points. The MSM Sharia Index closed at 801.51 points

Liquidity situation improving in Oman, say bankers
Bank liquidity in Oman is improving and financial institutions are in a comfortable position now, according to bankers, who attended the “New Age Banking Summit Oman” here on Wednesday.

“T

Aamal posts first-quarter net profit of QR139.7mn
Aamal Company has reported net profit of QR139.7mn, translating into earnings-per-share of QR0.18 at the end of first quarter (Q1) ended March 31, 2017.

“The Q1, 2017 has seen our revenues g

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Looking ahead, what change you are more likely to make in investing in your domestic stock market?