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Obama speech, economic outlook lifts Dubai market
- United Arab Emirates: Wednesday, February 13 - 2013 at 14:01
The DFM General Index rose 0.82% Wednesday to close at 1,903.46. Markets in east and west overall reacted positively to U. S. president Barack Obama's state of the union address held late Tuesday in congress where Obama said the world's largest economy would expand trade relations with the EU and Asia-Pacific. In Dubai, Emaar was the most liquid share and gained two percent to hit Dhs5.04. Bank Emirates NBD surged 2.96%, ending at Dhs3.83. Earlier in the day, ENBD chief investment strategist Mark McFarland said the UAE economy would grow 3.8% in 2013, up from 3.7% last year. Shares of Aman Insurance lost the most (off 1.71% at Dhs1.17).
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Gérard Al-Fil, Financial JournalistWednesday, February 13 - 2013 at 14:01 UAE local time (GMT+4)
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