10/02/2014
High mass of the GCC markets in anticipation of the dividend
«Real Estate» leading UAE stocks to highest level in 6 years
Gulf bourses rose Wednesday, supported by favorable conditions in global markets while the U.A.E. market stepped up thanks to strong business results and positive news from the real estate sector. The General index has increased for Abu Dhabi 2.2 per cent and Dubai index closed 1.1 per cent, with the support of real estate-related shares and shares of small companies favored by individual investors. The Abu Dhabi market index closed at 4826.39 points, its highest level in nearly six years, and the Dubai financial market index closed at 3974.61 points, the highest level for the index since six years and since September 2008 when it hit the real estate crisis. Aamir Khan the Fund Manager in Asol management said ' beam part due to positive signs from the world market '. Global stock markets came last weekend with investors ignored economic concerns after weak jobs report in the United States. The UAE market has been enhanced with quarterly results announced in the recent recovery in property prices is prompting local companies to resume frozen expansion projects in new sectors and foreign markets.
Increased share of arabtec holding for construction in Dubai, 3 per cent today after the company announced plans to participate in infrastructure projects, water, energy and financial services. Khan said ' results were in support of the ' ascent, adding that investors were expecting that the rest of the results of the last quarter of last year also. The Bank was the first among the stocks that have made the largest gains, rising 6.3 percent. The Bank announced the largest quarterly profit ever at the end of January, 2014 lifted its annual dividend 20 percent last week and announced plans to launch investment banking activities. Qatar stock index rose 1 percent, usually attracts generous dividends for Qatari companies investors during the season. Market analysts said Qatar and the Sultanate of Oman draw domestic investors looking for a safe haven after profit-taking in markets more volatile. The index rose Muscat Securities market 0.7 percent.
In Manama, the Bahrain stock exchange index yesterday rose for the third straight session; the main index went up by 0.53 percent or 1311.04 points, its highest level since 19 July 2011, nearly 31.
months, recorded a marked increase liquidity levels after trading on more than 2.3 million shares, compared with 1.1 million shares, worth some 582.84 thousand dinars compared to 265 000 at the previous meeting. And win a market value of nearly 38 million registered 7330 billion dinars compared to 11,298 billion dinars by the end of the previous meeting.
In the Kuwait market ended trading on Wednesday, up 0.40 percent, to close at 7863.00 points, with gains at 31.00 points, compared with last close at 7832.00 points. And in financial market indicators rose for the third straight session by 0.66 per cent, surpassing the checkpoint 7150 points to 7153.26 points, and the levels of liquidity relative improvement after trading more than 49.5 million shares worth more than 16.19 million from 2711 deal, compared with 40 million shares traded worth more than 11.33 million through 2521 deal at the previous meeting.
