Dubai market index almost reaches 4,000 points
The Dubai Financial General Index DFMGI closed 1.10 per cent higher at 3,974.61 points on Sunday, February 9, amid backwind from markets in the US and East Asia, which rebounded last Friday after a series of setbacks. Dubai market bellwether, Emaar Properties, fell by 1.08 per cent to AED8.21 and SHUAA Capital jumped by 5.26 per cent to AED1.20. Earlier in the day, investment bank SHUAA Capital said that it appointed Ahmed Al Qassim as a non-executive director with immediate effect. Al Qassim was with Dubai Group – a major SHUAA shareholder – and he was director of investment banking at Emirates NBD Capital. Approximately 1.27 billion shares were traded, valued at AED2.524 billion.