Dubai's market leapt on the open as traders caught up on a raft of good news from around the world, released while local markets were closed to mark National Day and the Islamic New Year.
Trading places:Companies moving the market today
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Dubai Financial Market Learn more
The Dubai Financial Market General Index rose 0.8 per cent to 1,390.65, while the Abu Dhabi Securities Exchange General Index was flat at 2,446.15.
The gains followed a 1 per cent bounce in the Saudi Tadawul All Share Index yesterday, which boosted the kingdom's index to 6,169.60.
Real estate developers lead the charge on Dubai's market, with Emaar Properties, Arabtec Holding and Drake & Scull International leading gains.
Shares in the Dubai Financial Market, the Gulf's only publicly listed exchange company, rose 1.8 per cent to 97.8 fils each after Standard and Poor's said it would launch an index of blue-chip stocks in Arab countries.
Markets were cheered as six central banks took co-ordinated action on Wednesday and the eurozone's sovereign debt impasse appeared to be reaching a resolution, as Germany's finance minister laid a roadmap for the 17-nation currency bloc to ease its debt crisis.
Positive employment data from the US pushed the S&P 500 to its best weekly gains since March 2009, though American stocks retreated slightly on Friday.
Elsewhere in the region, Qatar's market extended gains from last week, with the QE Index rising 0.2 per cent to 8,683.57.
Padmaavat
Director: Sanjay Leela Bhansali
Starring: Ranveer Singh, Deepika Padukone, Shahid Kapoor, Jim Sarbh
3.5/5
UAE currency: the story behind the money in your pockets
MISSION: IMPOSSIBLE – FINAL RECKONING
Director: Christopher McQuarrie
Starring: Tom Cruise, Hayley Atwell, Simon Pegg
Rating: 4/5
About Krews
Founder: Ahmed Al Qubaisi
Based: Abu Dhabi
Founded: January 2019
Number of employees: 10
Sector: Technology/Social media
Funding to date: Estimated $300,000 from Hub71 in-kind support
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Mica
Director: Ismael Ferroukhi
Stars: Zakaria Inan, Sabrina Ouazani
3 stars
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
CONFIRMED%20LINE-UP
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TO ALL THE BOYS: ALWAYS AND FOREVER
Directed by: Michael Fimognari
Starring: Lana Condor and Noah Centineo
Two stars
The years Ramadan fell in May
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
MATCH INFO
Rugby World Cup (all times UAE)
Final: England v South Africa, Saturday, 1pm
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