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Positive foreign trade figures from July push Dubai market higher
- United Arab Emirates: Thursday, October 18 - 2012 at 14:53
The DFM General Index closed 0.66% higher at 1,654.42 points amid dull trading activity. Earlier in the day, the Dubai statistics center revealed that the sheikhdom's non-oil trade soared to Dhs99bn in July. The UAE posted a 10.5% growth in trade during the first half-year of 2012. Telecom provider Du gained the most (up 2.75% at Dhs3.74). Commercial Bank of Dubai or CBD, the 9th largest lender in the UAE, fell 1.70% to Dhs2.95. Earlier in the day, CBD revealed a net profit for the third quarter of Dhs254m, which means the Q3 result stagnated year-on-year. The nine-month profit fell to Dhs739.5m, down from Dhs777.2m. Emaar gained 1.36% to hit Dhs3.73.
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Gérard Al-Fil, Financial JournalistThursday, October 18 - 2012 at 14:53 UAE local time (GMT+4)
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