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

Market News
2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | News Archive
Most Viewed Companies
Ticker Price Volume
QNBK 161.6 110,486
STC 54.89 1,262,071
NBK 570 11,851,363
MARK 35 280,144
BATELCO 0.3 6,241
SABIC 83.83 2,118,124
RJHI 53.49 3,808,988
Recent News

Banking stocks steal limelight on Muscat stock market
Despite low volume, gains in banking stocks drove the MSM 30 Index to 5,592.88 points, up 0.17 per cent. However, the MSM Shariah Index ended at 857.58 points, down 0.15 per cent.

Bank Soh

Omani bourse needs market makers to develop bond market: CMA chief
Oman’s bourse needs market-makers to develop an active secondary market for debt instruments, said a top-level official at the Capital Market Authority (CMA). The market makers, who are prevalent in

Al Khaliji reports QR425mn profit for first nine months
Khaliji, a new generation lender, has reported a net profit of QR425mn in the first nine months of this year. “Given the decline in energy prices and the challenging global market conditions, the r

Ahli Bank posts 9-month net profit of QR503.5mn
Ahli Bank has posted a net profit of QR503.5mn for nine months up to September, thus “maintaining its underlying performance” as against the corresponding period of 2015. The bank’s balance sheet gr

Mega projects drive insurance growth in Qatar’
Mege projects and this is why, as an international company, we are interested in Qatar,” country head Salim Mansour told Gulf Times on the sidelines of the opening of AXA’s new shop at The Pearl. The

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


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