Dubai market rises while capital's bourse retreats

Dubai shares tracked rising global stock markets yesterday.

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On the Dubai Financial Market (DFM) General Index, Emaar Properties, the developer of the Burj Khalifa, advanced 1 per cent to Dh2.81.

Aramex, the largest courier company in the region, rose 1.6 per cent to Dh1.81. Takaful Emarat Insurance jumped 6.8 per cent to 77 fils a share.

The DFM General Index was up 0.4 per cent at 1,466.81 points.

"European markets opened higher today and gave a confidence boost for the local market," said Nabil Farhat, a partner at Al Fajer Securities in Abu Dhabi. "Most of the indices are up."

In the capital, the Abu Dhabi Securities Exchange General Index was down 0.1 per cent at 2,579.18. Ras Al Khaimah Cement was down 1.1 per cent at 87 fils.

Sorouh Real Estate fell 0.8 per cent to Dh1.15. National Bank of Umm Al Qaiwain was up 2.4 per cent at Dh2.10.

Eshraq Properties is expected to list on the Abu Dhabi bourse today.

Kuwait's index rose 0.4 per cent to 6,035.70 points, Bahrain's advanced 0.3 per cent to 1,270.14, Oman's rose 0.1 per cent to 5,700.26, and Qatar's declined 0.1 per cent to 8,319.17.

The Saudi Tadawul closed 0.04 per cent higher at 6,071.52.

halsayegh@thenational.ae