Emaar slips, Shuaa clarifies, ENBD soars - Dubai market
- United Arab Emirates: Sunday, March 17 - 2013 at 14:08
The Dubai stock exchange's market index DFMGI advanced 0.15% to reach 1,918.98 points Sunday. Emaar closed off 0.72% at Dhs5.52. Financials outperformed after the Euro zone-17 rescued indebted Cyprus with a EUR10bn aid package on the conditions that bank customers will contribute to pay off the island's sovereign debt. Shares of the UAE's first lender Emirates NBD jumped 2.33% to hit Dhs3.95. Investment bank Shuaa Capital closed 1.20% higher at Dhs0.594. In a public statement Shuaa denied media reports that its board of directors recommended the distribution of 6% dividends at the annual general assembly to be held on April 15. In recent months, Shuaa upgraded its financing services for small and medium enterprises (SME) in the GCC and aims to return to annual profits in 2013.
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