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Dubai market jumps two pct on Arabtec euphoria
- United Arab Emirates: Tuesday, January 08 - 2013 at 13:52
Despite negative input from U. S. and Asian markets, the Dubai bourse's main index DFMGI gained 2.10% to hit 1,727.29 points Tuesday. Arabtec Construction was the share of the day. The UAE's largest construction firm, which closed 5.31% higher at Dhs2.58, said earlier in the day that it was awarded by the official Abu Dhabi tourism TDIC to build the Louvre Abu Dhabi museum for Dhs2.4bn. Emaar closed 4% higher at Dhs4.12. Air Arabia fell 0.11% amid rising oil prices which translate into higher operation costs for airliners. Some 477.5m shares were traded, valued at Dhs440m. Consequently, shares of the DFM, the only Arab bourse listed to the public, jumped 3.77% to hit Dhs1.10.
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Gérard Al-Fil, Financial JournalistTuesday, January 08 - 2013 at 13:52 UAE local time (GMT+4)
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