Shares on the Dubai Financial Market (DFM) rose yesterday, led by Emaar Properties, amid earnings optimism as investors speculated that the region's largest developer would deliver strong fourth-quarter results.
Emaarrose 0.8 per cent to Dh2.43. A consensus estimate of analysts polled by Reuters expects the Dubai developer to report a 73.9 per cent rise in quarterly profit to Dh475.6 million. Emaar reported a net profit of Dh273.4m in the corresponding period a year earlier. The DFM General Index rose 0.7 per cent to 1,310.40.
"Emaar remains one of the top picks for investors as they see sustainable business and solid earning quality," said Tariq Qaqish, a senior fund manager at Al Mal Capital. On the Abu Dhabi Securities Exchange (ADX), Dana Gas was unchanged at 34 fils after the UAE gas explorer and producer said it would honour obligations related to a US$1 billion sukuk due in October.
No comments:
Post a Comment