Emaar Properties PJSC (EMAAR), the developer of the world’s tallest tower, rallied 2.3 percent. National Central Cooling Co., the United Arab Emirates utility known as Tabreed, surged to the highest in more than a month. The DFM General Index (DFMGI) gained 0.4 percent to 1,390.07 at the 2 p.m. close in Dubai. The market was shut for Eid al-Adha the previous three trading days. The MSCI Emerging Markets Index fell 0.4 percent as of 4:17 p.m. in the emirate, after rising as much as 1.1 percent.
There is “some catch up for the Middle East markets re- opening today post the Eid holiday, but on low volumes as many locals will stay away for the whole week,” said Shehzad Janab, the head of asset management at Dubai-based Daman Investments. “An absence of regional news means we will continue to look at developments in Europe.”
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