Dubai shares rise, pare weekly loss

DUBAI — Dubai shares rose for the first time in three days after reports showed US employment and consumer sentiment improved, boosting investors confidence in the global economic recovery. Oil traded above $83 a barrel.

By (Bloomberg)

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Published: Fri 26 Nov 2010, 11:11 PM

Last updated: Mon 6 Apr 2015, 5:11 PM

Emaar Properties PJSC, builder of the world’s tallest skyscraper in Dubai, climbed for the third time this week and Emirates NBD PJSC, the United Arab Emirates’ biggest bank by assets, advanced 1.6 per cent.

The DFM General Index increased 0.5 per cent to 1,682.23, at the 2.00pm close in in Dubai, trimming its loss this week to 0.3 per cent.

Emerging-markets shares climbed, with the MSCI EM Index increasing as much as 0.4 per cent. About 77 million shares traded in Dubai today, compared with a six-month daily average of 116 million shares.

Qatar’s QE Index advanced 0.4 per cent, Oman’s benchmark stock index gained 0.2 per cent and Abu Dhabi’s measure was little changed. Bahrain’s All Share Index rose 0.1 per cent, while Kuwait’s gauge fell 0.1 per cent. Saudi Arabia’s market is closed for the weekend. —

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