Dubai shares rose for a third day, led by Emaar Properties PJSC after the builder of the world’s tallest skyscraper paid a lower price than for its existing debt to raise $980 million.
Emaar, which has a weighting of 17 percent in Dubai’s benchmark, gained the most in a week. Tamweel PJSC, a Dubai- based company offering mortgage financing, advanced the most since Nov. 30. The benchmark DFM General Index increased 0.2 percent to 1,377 at 10:56 a.m. in the emirate. The Bloomberg GCC 200 Index, which tracks the biggest 200 companies in the region, lost less than 0.1 percent.
The Emaar loan “will put less pressure on financing expenses,” said Samer Darwiche, an analyst at Gulfmena Investments in Dubai.
Emaar, which has a weighting of 17 percent in Dubai’s benchmark, gained the most in a week. Tamweel PJSC, a Dubai- based company offering mortgage financing, advanced the most since Nov. 30. The benchmark DFM General Index increased 0.2 percent to 1,377 at 10:56 a.m. in the emirate. The Bloomberg GCC 200 Index, which tracks the biggest 200 companies in the region, lost less than 0.1 percent.
The Emaar loan “will put less pressure on financing expenses,” said Samer Darwiche, an analyst at Gulfmena Investments in Dubai.
No comments:
Post a Comment