The Dubai Financial Market (DFM) enjoyed a bull run yesterday, touching the highest level in more than two years, as investors bought up property and financial-related stocks.
The emirate "is continuing to gain further ground, with ongoing positive sentiment in the real estate sector being the main driver," said Julian Bruce, the EFG Hermes director of institutional equity sales.
Emaar Properties, which developed Burj Khalifa, jumped 3.5 per cent to Dh4.64 a share.
Shuaa Capital rose 2.5 per cent to 61 fils after the investment bank said its subsidiary Gulf Finance Corporation has entered the healthcare leasing business.
The DFM General Index rose 1.4 per cent, outperforming indexes across the Middle East and North Africa. The benchmark closed at 1,819.01 points, the highest level since April 2010.
The start of corporate earning season is also boosting investor interest, said Marwan Shurrab, the vice president and chief trader at Gulfmena Investments, an asset manager in Dubai. "Optimism over strong profits in the fourth quarter and dividend announcements" is helping lift shares, he said.
The Abu Dhabi Securities Exchange General Index gained 0.6 per cent to 2,799.63.
Elsewhere in the region: Kuwait's measure was little changed, up 0.05 per cent, to 6,205.97; Bahrain's index added 0.2 per cent to 1,073.38; Oman's MSM 30 Index ended flat at 5,819.79; Qatar's QE Index slipped 0.5 per cent to 8,640.61. The Saudi Tadawul All-Share Index fell 0.02 per cent to 7,023.74.
halsayegh@thenational.ae
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The specs
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Transmission: six-speed and 10-speed
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ORDER OF PLAY ON SHOW COURTS
Centre Court - 4pm (UAE)
Gael Monfils (15) v Kyle Edmund
Karolina Pliskova (3) v Magdalena Rybarikova
Dusan Lajovic v Roger Federer (3)
Court 1 - 4pm
Adam Pavlasek v Novak Djokovic (2)
Dominic Thiem (8) v Gilles Simon
Angelique Kerber (1) v Kirsten Flipkens
Court 2 - 2.30pm
Grigor Dimitrov (13) v Marcos Baghdatis
Agnieszka Radwanska (9) v Christina McHale
Milos Raonic (6) v Mikhail Youzhny
Tsvetana Pironkova v Caroline Wozniacki (5)
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
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Specs
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MATCH INFO
English Premiership semi-finals
Saracens 57
Wasps 33
Exeter Chiefs 36
Newcastle Falcons 5
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The Freedom Artist
By Ben Okri (Head of Zeus)
Bio
Born in Dibba, Sharjah in 1972.
He is the eldest among 11 brothers and sisters.
He was educated in Sharjah schools and is a graduate of UAE University in Al Ain.
He has written poetry for 30 years and has had work published in local newspapers.
He likes all kinds of adventure movies that relate to his work.
His dream is a safe and preserved environment for all humankind.
His favourite book is The Quran, and 'Maze of Innovation and Creativity', written by his brother.
What is 'Soft Power'?
Soft power was first mentioned in 1990 by former US Defence Secretary Joseph Nye.
He believed that there were alternative ways of cultivating support from other countries, instead of achieving goals using military strength.
Soft power is, at its root, the ability to convince other states to do what you want without force.
This is traditionally achieved by proving that you share morals and values.
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MATCH INFO
UAE Division 1
Abu Dhabi Harlequins 12-24 Abu Dhabi Saracens
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
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