Dubai shares rose a fifth day on bets quarterly earnings will beat expectations and as investors turned to assets in the United Arab Emirates, which has been spared from protests that toppled governments in North Africa.
Emaar Properties PJSC (EMAAR), builder of the world’s tallest tower, headed for the highest close since January and Aramex PJSC, the Middle East’s largest courier company, advanced 1.1 percent. The DFM General Index (DFMGI) climbed 0.3 percent to 1,605.69 at 11:34 a.m. in Dubai, bringing the gain for the week to 3.2 percent. Abu Dhabi’s index rose 0.1 percent, while the Bloomberg GCC 200 Index (BGCC200) was little changed.
“Selected companies in the U.A.E. are expected to report strong first-quarter numbers,” said Ziad Dabbas, a financial analyst at National Bank of Abu Dhabi PJSC (NBAD), the U.A.E.’s second- largest lender by assets. “Dubai is looked at as a place with political stability, unlike most of the rest of the region, and that encourages investors.”
No comments:
Post a Comment