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Dubai market defends level at 1,500 points

The DFM General Index opened strongly but lost staem over the day and closed insignificantly lower at 1,509.05 points. Emaar dipped 0.31% to Dhs3.24. After the closing, Emaar reported an 82% year-on-year increase in net profits for the frst half-year of 2012, amounting to 1.220 billion Dirham (330 million U. S. dollars). Year-to-date, Emaar shares increased by 33% in value. Shares of the DFM, the sole Arab market publicly traded, bucked the trend and gained 0.41% to reach Dhs0.97 (0.26 U. S. dollar).