Complex Made Simple

Dubai Financial Market gains the third day straight

Driven by global speculations of a stimulus plan in the indebted Eurozone, the DFM General Index surged 0.53% to reach 1,463.69 points Thursday. The rise was broad as 20 shares out of 27 traded securities advanced, while five declined. District cooling specialist Tabreed was the most liquid stock (up 2.56% atd Dhs1.20). Bellwether Emaar Properties added 0.35% to hit Dhs2.85. Shuaa Capital did not join the rally and slipped 0.44% to Dhs0.676. From a chart-technial perspective, the DFMGI rose amid narrowing Bollinger Bands during the last three days, usually an indication for more volatility to come. Some 111.5m shares worth Dhs103.8m changed hands.