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
 Jan 29 2015 - HH the Emir Receives Phone Call from Ban Ki-moonQatar News Agency
(MENAFN - QNA) HH the Emir Sheikh Tamim bin Hamad Al-Thani on Thursday received a phone call from the United Nations Secretary-General, Ban Ki-moon, during which he thanked HH the Emir on the ...

 Jan 29 2015 - Consumer spends on pharma products to increase to Dh5.03b by 2020Khaleej Times
(MENAFN - Khaleej Times) Dubai € Consumer expenditure on pharmaceutical products, medical appliances and equipment in the UAE has experienced a strong increase and is forecast to be valued around ...

 Jan 29 2015 - UAE- Time to put cyber security on top priorityKhaleej Times
(MENAFN - Khaleej Times) Kaspersky lab solutions block millions of attacks across the globe, which clearly indicates that cyber criminals are smart, but not smarter than security providers.This was ...

 Jan 29 2015 - Indian business council honours Emirati businessmenKhaleej Times
(MENAFN - Khaleej Times) Dubai - The Indian Business and Professional Council (IBPC) hosted a reception on the occasion of the 66th Republic Day of India at the Oberoi Hotel, Business Bay, on Sunday. ...

 Jan 29 2015 - UAE, Canada discuss ways to boost tradeKhaleej Times
(MENAFN - Khaleej Times) Abu Dhabi - Abdullah Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade, received a Canadian delegation led by Martin Zablocki, CEO of the Canadian ...

 Jan 29 2015 - Emirates NBD facilitates Stanbic in $85 million loan facilityKhaleej Times
(MENAFN - Khaleej Times) Al Ahli Bank of Kuwait and Standard Chartered Bank joined the transaction as mandated lead arrangers while Al Khalij Commercial Bank and The Commercial Bank of Qatar ...

 Jan 29 2015 - NBAD profit jumps 28% in 2014Khaleej Times
(MENAFN - Khaleej Times) Abu Dhabi - A strong growth in incomes from interest and non-interest based revenues bolstered the National Bank of Abu Dhabi (NBAD) profits to Dh1.372 billion in the quarter ...

 Jan 29 2015 - UAE pharma spend to hit Dh5 billion by 2020Khaleej Times
(MENAFN - Khaleej Times) It is also forecasted to increase at a compound annual growth rate (CAGR) of about 9.78 per cent from 2014 to 2020 as, by then, the value of consumer expenditure on ...

 Jan 29 2015 - Parents happy with children's educationKhaleej Times
(MENAFN - Khaleej Times) Abu Dhabi: A survey by the Abu Dhabi Education Council (Adec) has revealed that parents across the emirate are satisfied with their children's schools. The education ...

 Jan 29 2015 - Customers continue winning at Malabar Gold 1amp Diamonds FestivalArab News
(MENAFN - Arab News) Customers continue to win at Malabar Gold & Diamonds' ongoing gold and diamond festival.The jewelry retailer's 4th edition of Malabar Gold & Diamonds Festival in the GCC ...

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