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Dubai market rebounds, eyes 1,700 points

 
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Kirk
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Joined: 01 Jan 1970
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PostPosted: Tue Feb 28, 2012 7:07 pm    Post subject: Dubai market rebounds, eyes 1,700 points Reply with quote

The Dubai Financial Market (DFM) General Index hit at a 16-month high Tuesday, closing 2.66% higher at 1,698.22 points. Shares of the DFM, the sole Arab exchange which is listed publicly, gained 4.61% to reach Dhs0.999. Islamic banks Ajman Bank and Dubai Islamic Bank failed to join the rebound and lost 6.44% and 1.80%, respectively. Market breadth returned to the bullish mode, as 27 shares advanced and three declined. Some 644m shares were traded, valued at Dhs755m.

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