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U. S. bulls' run boosts Dubai market
- United Arab Emirates: Sunday, January 27 - 2013 at 14:10
The DFM General Index gained 1.50% Sunday, closing at 1,819.01 points, a near three-year high. Last Friday, the U. S. bellwether index Dow Jones Industrial hit a 5-year high amid positive encouraging data from the labour market. Emaar Properties and DFM as the most liquid shares advanced 3.57% ad 2.40% to close at Dhs4.64 and Dhs1. 28, respectively. Earlier in the day, real estate services provider Asteco said strong demand for villa and apartment property in Dubai is expected to continue in the first half of 2013. In Q4 2012, villa sales prices were up on average 23% year-on-year and apartments made average gains of 14% during the same period, said Asteco. Shares of Kuwait's Mazaya Real Estate could not benefit from the general bullish sentiment and lost the most (off 10% at Dhs0.99.
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Gérard Al-Fil, Financial JournalistSunday, January 27 - 2013 at 14:10 UAE local time (GMT+4)
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