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Emaar leads Dubai market rebound to 1,600
- United Arab Emirates: Sunday, November 25 - 2012 at 14:24
Amid tailwinds from the Saudi bourse, which ended Saturday a 10-day losing streak by gaining 0.84%, the Dubai Financial Market (DFM) General Index edged up by 0.33% to reach 1,601.84 points Sunday. Emaar Properties was the most liquid share, closing 2.19% higher at Dhs3.73. Islamic financial institution Ajman Bank fell 1.83% to Dhs1.07. Earlier in the day, the UAE's youngest Islamic bank, founded in 2007, said that it in the first nine months it returned into profits which amounted to Dhs25.38m, up from a loss of Dhs4.8m in the same period last year. In Q3, the bank' profit rose more than 4-fold to hit Dhs13.5m. The DFM's advance-decline ratio ended even at 12 to 12. Some 131m shares were traded, valued at Dhs205.3m.
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Gérard Al-Fil, Financial JournalistSunday, November 25 - 2012 at 14:24 UAE local time (GMT+4)
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