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Dubai market ends week on a high note

 
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Kirk
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Joined: 01 Jan 1970
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PostPosted: Thu Feb 23, 2012 7:07 pm    Post subject: Dubai market ends week on a high note Reply with quote

The DFM General Index rose by 1.50% Thursday, closing at 1,632.27 points. Arabtec Construction surged 3.74% to hit Dhs3.05. With today's trading action, the DFM increased its year-to-date gain to 20.61%. Emaar Properties slipped 0.33% to Dhs3.04. According to Gary Dugan, CIO Private Banking Emirates NBD, "the days of investors hiding in 100% cash or near cash are behind us. Central banks have collectively provided such significant amounts of stimulus to the global economy that some risk taking by investors bored with near zero interest rates was inevitable. The cash continues to seek higher yield in bonds and equities driving prices higher." Some 564.4m shares were traded, valued at Dhs440.34m.

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