10/12/2013
Variation in the performance of Gulf bourses
«Real Estate» supports Dubai business Exchange .. And Abu Dhabi, the highest in 5 years
Abu Dhabi stock index exceeded the level of 4,000 points for the first time in five years Wednesday, trying to catch up with the Dubai index, which continued its gains, supported by the recovery of the real estate sector. Abu Dhabi's index rose 0.3 percent to 4,007 points, the highest close since September 2008. ADX stepped up 52.1 percent since the beginning of the year, while Dubai's index jumped 56.6 percent in 2013. Yesterday's winner shares topped the weaker performance. NBAD Shares rose 1.6 percent, and Abu Dhabi national energy company ' energy ' shares 3.8 percent. Reuters quoted Sebastian nostalgia, Director of the conservative National Investor co.: ' Abu Dhabi rises to join its counterparts. I don't think it will happen considerable change in morale. The Dubai index climbed 1.5 percent, closed at 3100 points, a new record high in five years.
Real estate companies shares, supported by a strong rebound in property prices and rentals, as well as optimism about demand for new projects. Emaar Properties ' shares climbed 3.4 percent and Deyaar Development 5.3 per cent. Hanen Said : ' investors more comfortable with investing in real estate sector in Dubai, which reflects the economic recovery. This expression of confidence lacking in the real estate sector in Abu Dhabi. In Egypt the main index slipped 0.2 percent to 2854 points, in the face of a major resistance level. And the failure of the pointer in the penetration level of 6510 points, its highest level during trading this year, his record on 20 November. The national index ended trading unchanged mentions about the highest in 36 months, his record Thursday, while Kuwaiti index lost 0.2 percent.
