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Half-year results boost DFM shares

It is still all the way up with the Dubai Financial Market, as its market measure DFMGI closed 1.60% higher at a three-month high of 1,575.32 points Sunday. The DFM itself, the only Arab bourse whose shares are publicly traded, jumped 1.52% to hit one Dirham, the highest price-level since May 10. On Saturday, the DFM said that in the first half of 2012 it has earned 40.6 million Dirham, representing a 140 percent year-on-year increase. Positive input from the HSCB UAE Purchasing Managers' Index (PMI) also boosted the Dubai market, the economic indicator for the UAE's non-oil private sector hit 53.4 points in July, up from 53.2 in June, signaling the thirty-fifth successive month-on-month improvement. Deyaar Development gained the most (up 14.80%), while Ekttitab posted the biggest drop (down 6.63%). Emaar, as the most liquid stock, advanced 1.17% to reach Dhs3.46.