Shares jump to four-year high

Dubai shares rose for a ninth consecutive session Sunday, capping the longest winning streak in more than four years as oil traded near US$70 a barrel.

The Dubai Financial Market (DFM) gained 2.36 per cent, breaking the 2000 level for the first time this year, with banks and property companies recording the biggest gains.

“The 2,000 resistance barrier was broken on the DFM so confidence levels are at a peak for the year and increasing day by day,” said Shiv Prakash, an equity investment analyst at MAC Capital Advisors.