Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Dubai shares gain on upbeat realty outlook  Join our daily free Newsletter

MENAFN - Khaleej Times - 28/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Real estate companies that have been seeing a big revival of fortunes since the second half of 2013 mostly drove the sustained rally by dubai?s key index.

dubai’s dfm general index on sunday climbed 0.6 per cent to 5116.49 points the seventh consecutive gain in eight days by the benchmark gauge.

real estate companies that have been seeing a big revival of fortunes since the second half of 2013 mostly drove the sustained rally by dubai’s key index.

as emaar properties the stock with the highest weighting on the index rose 1.9 per cent to dh11 arabtec holding advanced 2.9 per cent to dh8.99 on bets it may form an alliance with abu dhabi’s aldar properties.

the latest rally on dfm came as the first initial public offering (ipo) by marka on dubai’s main stock market in five years was 36 times oversubscribed. investors buoyed by a rebound in all economic sectors subscribed dh10 billion to the fixed offer of 275 million shares in marka which were priced at dh1 each.

underscoring the economic upswing dubai dfm index has risen by 52 per cent year-to-date making it the world’s strongest performing market. analysts are upbeat that marka’s remarkable ipo success could prompt the launch of more ipos in coming months.

in march nasdaq dubai the smaller of dubai’s two stock exchanges saw its first ipo since the global financial crisis a 175 million offer by emirates reit getting 3.5 times oversubscribed.

emaar chairman mohamed alabbar’s bullish forecast that the developer’s profit would more than triple by 2018 coupled with the company’s better-than-expected first quarter earnings is among major signals shoring up investor confidence analysts said.

another factor behind the rally is the long sought after msci upgrade of the uae and qatar to emerging market status. in may msci will raise the uae and qatar to emerging market from frontier market status. in september s&p dow jones will also upgrade the bourses.

however on sunday qatar’s index declined 0.7 per cent the most in two weeks. the msci emerging markets index fell 1.8 per cent last week as the group of seven nations agreed to act against russia and standard & poor’s cut the country’s rating.

shares of arabtec the largest listed builder in the uae have more than tripled this year. aldar abu dhabi’s biggest developer which announced three residential projects valued at a total of dh5 billion on april 21 declined 1.2 per cent.

gulf navigation holding surged 15 per cent as the owner and operator of crude and chemical tankers reported a first-quarter profit after a loss in the year-earlier period.

saudi arabia’s tadawul all share index advanced 0.2 percent led by insurance stocks.

egypt’s egx-30 index decreased 0.6 per cent to 8247.47 points snapping a six-day winning streak.

abu dhabi’s benchmark adx general index fell 0.4 per cent. oman’s measure lost 0.8 percent kuwait’s benchmark retreated 0.3 per cent and bahrain’s gauge was little changed.


 


Khaleej Times




  MENA News Headlines
 Apr 24 2015 - Pres. Erdogan's talks in Kuwait to focus on bilateral ties upgrade - officialKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Head of Europe Department at the Foreign Ministry Ambassador Waleed Al-Khubaizi said Thursday that the Turkish President Recep Tayyip Erdogan's talks with Kuwaiti ...

 Apr 24 2015 - His Highness Premier congratulates new ALO chiefKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah on Thursday sent a cable of congratulations Kuwait Trade Union Federation (KTUF) ...

 Apr 24 2015 - Egypt won't condone foreign threats to Arab security - Pres. SisiKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Egyptian President Abdelfatah Al-Sisi vowed Thursday that Egypt would not condone any threat to the Arab security and would stand by Arab countries to derail ...

 Apr 24 2015 - Pakistan desires early political solution to Yemen crisis - Foreign OfficeKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Pakistan has said that it desires an early political solution to Yemen crisis, urging the UN and the Organization of Islamic Cooperation (OIC) to take proactive ...

 Apr 24 2015 - EU leaders seek ways to prevent illegal immigration to EuropeKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Leaders of the 28-member European Union began here Thursday afternoon an emergency summit to deal with the illegal immigration crisis after the recent drowning of ...

 Apr 24 2015 - Conf. of diplomatic missions holds evening sessionKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The 8th conference of Kuwaiti diplomatic missions abroad resumed its sessions on Thursday evening in presence of Undersecretary of the Foreign Ministry Khaled ...

 Apr 24 2015 - Brussels Summit to end Med crisis "woefully inadequate" - AmnestyKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Draft Brussels summit proposals are "a woefully inadequate and shameful response" to the crisis in the Mediterranean and will fail to end the spiral of deaths at ...

 Apr 24 2015 - Saudi King meets Pakistan PremierKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Saudi King Salman bin Abdulaziz Al Saud met visiting Pakistani Prime Minister Nawaz Sharif and his accompanying delegation at Al-Ouja Palace here on Thursday.At ...

 Apr 24 2015 - His Highness Amir's Rep. stresses Kuwait's support to Asian-African coop.Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The State of Kuwait has adopted a policy of cooperation, backing dialogue and pushing development efforts for the prosperity of Asian and African countries, said ...

 Apr 24 2015 - Saudi Crown Prince meets Pakistan PremierKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Saudi Crown Prince and Deputy Prime Minister Prince Muqrin bin Abdulaziz Al-Saud met visiting Pakistani Prime Minister Nawaz Sharif and his accompanying ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help