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Dubai market quarrels with resistance level at 1,750
- United Arab Emirates: Monday, January 14 - 2013 at 14:00
The Dubai Financial Market index rose above 1,750 until 12am but eventually fell back and closed 0.15% higher at 1,735.74 points. Emaar Properties and real estate cooling energy firm Tabreed were among the most liquid shares, ending off 0.74% and down 4.52% respectively. DFM shares advanced 2.68% as trading turnover remained strong. Burkhard Varnholt, Chief Investment Officer at Swiss bank Sarasin said earlier today, one of his predications for this year was that globalisation of financial repression will trigger a tidal wave of stock buying in 2013. "After the global glut of liquidity pushes yields on even the last fixed-income assets down to paltry depths, more and more investors feel compelled to purchase stocks," said Varnholt in Sarasin's Global View 2013. The DFM General Index has gained 6.9% since Jan. 1.
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Gérard Al-Fil, Financial JournalistMonday, January 14 - 2013 at 14:00 UAE local time (GMT+4)
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