Dubai bourse ends with modest gains, negative market breadth
The Dubai Financial Market General Index (DFMGI) gained 0.30 per cent to close at 4,451 points on Monday, March 31. Eleven shares advanced, while 18 declined. Emaar closed unchanged at AED9.95. Gulf General Investment was the top gainer (up by 1.92 per cent), followed by Dubai Financial Market (DFM) and Union Properties, which gained 1.90 per cent and 1.73 per cent, respectively. Earlier in the day, DFM – the only Arab bourse listed on the market – revealed that it will hold an international roadshow in London on April 28 and 29, which will be organised by US-based investment bank, Goldman Sachs. “The event brings together senior representatives from 13 companies listed on DFM and NASDAQ Dubai, as part of DFM’s efforts to regularly offer listed companies the opportunity to showcase their growth and strategies,” reveals DFM. The announcement comes as various DFM-listed companies are taking the necessary steps to raise foreign ownership limits in line with the growing interest from international institutions towards DFM. In June 2013, global index provider, MSCI, upgraded the UAE’s status to ’emerging market’.