UAE markets end the week in positive territory | GulfNews.com

UAE markets end the week in positive territory | GulfNews.com:



"UAE markets ended the week higher on Thursday with Dubai’s benchmark stock index surging more than four per cent compared to a one per cent rise in the capital’s measure.



The Dubai Financial Market General Index rose 1.45 per cent to 3931.44 as volumes and turnover fell to 2.67 from Wednesday’s Dh3.25 billion. Total volume traded stood at 1.27 billion shares. Much of the trading was driven by investors buying shares of Emaar Properties, the bonds of which was upgraded on Wednesday to investment grade by ratings agency S&P, with a stable outlook. The stock jumped 4.67 per cent to Dh8.30.



“After the upgrade, the fixed income reacted positively, as expected, but surprisingly the equity market also,” said Sebastien Henin, head of asset investment at Abu-Dhabi based The National Investor (TNI). “Emaar has under performed the index during the past sessions. The rating agency decision yesterday triggered a strong reaction from market participants today.”"



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