Emaar gains as Dubai's macroeconomic comeback boost profits
- United Arab Emirates: Tuesday, October 23 - 2012 at 14:47
The Dubai Financial Market (DFM) General Index remained in a stutter mode on Tuesday, closing 0.11% lower at 1,650.26 points. Market bellwether Emaar (up 1.10% at Dhs3.75) was in most liquid share and in the focus of today's trading action. Earlier in the day, Emaar said earlier in the day the (unaudited) net profit for the third quarter rose 5% year-on-year, amounting to Dhs347m. The nine-month profit surged by 49% to hit Dhs1.6bn. Islamic home financing firm Tamweel lost the most, closing off 5.10% to hit Dhs1.30. Trading turnover rose sharply of Eid holidays as 247m shares worth Dhs227.5m changed hands.
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