With a half-year gain of 7.28 percent, the Dubai Financial Market General Index posted the highest advance in the region, but regional indexes closed June lower than the first quarter.
After a strong start into the year, when the Dubai Financial Market General Index gained 21.92 percent in the first quarter, the gauge was hit by a non-stop bombardment of bad news from the Euro zone due to debt crisis. In addition, with fears of a military escalation between Western powers and Iran because of Tehran's nuclear energy ambitions dragged the Dubai market down in the second quarter.
Last Thursday, the gauge closed at 1,451.87 points or 7.28 percent higher than on December 31 2011, leaving Dubai as a top performer among all oil states of the Gulf Co-operation Council ( GCC).
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