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Dubai market rises the fourth day straight
- United Arab Emirates: Tuesday, January 29 - 2013 at 13:56
The DFM General Index closed 1.75% higher at 1,853.17 points Tuesday amid positive input from Asia and because of the bullish mood the Dubai government triggered with the successful sale of a $1.25bn bond and sukuk. Emirates NBD gained the most, jumping 8.57% to reach Dhs3.80. Emaar was the most actively traded share by value ending up 3.66% at Dhs4.81. Shuaa Capital fell 2.30% to Dhs0.594 although the investment bank is still cheap with a price-to-book value of 0.55 (the DFM's financial segment average is 0.79). DP World consolidated at $13.06 (up 0.08%). Earlier in the day, the world's third biggest maritime port operator said it increased in 2012 its container volume to 56.1 million TEU (twenty-foot equivalent units), a 2.4% increase year-o-year. "Adjusting for the divestment of four joint venture terminals during the year, like for like gross container volume growth was 3.7% ahead of last year," said DP World in an e-mailed statement.
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Gérard Al-Fil, Financial JournalistTuesday, January 29 - 2013 at 13:56 UAE local time (GMT+4)
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