Dubai market consolidates five-year high
The DFM General Index rose by 1.45 per cent, reaching 3,100.33 points on Monday, December 9 as trading turnover reached its highest this week. Yesterday, the Dubai customs revealed that Dubai’s foreign trace volume reach Dhs1.1 trillion ($300 billion) in 2011, marking the first time that trade crosses the Dhs1trn threshold. Emaar jumped 3.43 per cent, hitting Dhs6.94. Its rivals Deyaar Development and Union Properties gained 5.31 per cent and 4.81 per cent, closing at Dhs0.773 and Dhs1.09 respectively. SHUAA Capital surged by 2.72 per cent, closing at Dhs0.945. National General Insurance fell by 9.84 per cent to Dhs5.50. Approximately 933 million shares were traded, which were valued at Dhs1,239 million.