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DFM shares soar on trading interest

February 11, 2014 1:57 pm

The Dubai Financial General Index DFMGI opened weaker today, February 11, but eventually turned into the green and closed 0.98 per cent higher, at 4,065.29 points. DFM, the only Arab bourse where shares are listed publicly, jumped seven per cent to hit AED3.06. The local bourse of Dubai has witnessed a steep surge in trading turnover in recent weeks and granted three new licences for brokerage services earlier in the week. Kuwaiti logistics giant Agility dived by 9.94 per cent to AED8.88. Emaar Properties advanced by 1.07 per cent to AED8.48. Drake and Scull International (DSI) was the most liquid share, edging up by 3.45 per cent to AED1.80. Earlier in the day, DSI confirmed media reports that its subsidiary, Gulf Technical Construction Company, was awarded a construction contract worth AED375 million ($102.2m) by Dubai’s state-owned developer Nakheel, for the development of the shopping mall ‘The Pointe’ in Palm Jumeirah.

Gérard Al-Fil