Shares in Dubai led gains across the Arabian Gulf today, rounding off their best week in over two months.
The Dubai Financial Market General Index closed up 1.44 per cent to 3,309.79, achieving a 1.09 per cent gain for the week.
Emaar Properties shares recovered ground for the second session in a row, climbing by 1.83 per cent to Dh6.67, ending off just half a per cent for the week.
Shares in DXB Entertainments fell 0.64 per cent to Dh1.55, ahead of the opening of the company’s Bollywood Parks theme park in Dubai today evening.
Drake and Scull International once again dominated trading, accounting for more than a third of total trading volumes on Dubai’s headline index. The contractor’s shares closed unchanged at 51.8 fils after management told analysts that it planned to refocus on projects within the GCC, putting to rest plans to go further afield to markets such as India.
GFH shares had their best day of the year, climbing 13.6 per cent to Dh1.84 their highest level since March 2014, after the Bahraini investment group announced the appointment of Hammad Younas as its new head of investment management.
Shares in Abu Dhabi ended little changed, closing up 0.04 per cent at 4,292.08, finishing up 0.22 per cent for the week. Aldar Properties and ADCB led gains, rising 1.6 and 0.7 per cent respectively.
Saudi shares fell nearly 0.9 per cent in early trading before recovering to end only 0.2 per cent lower. It, however, notched up 1.5 per cent gains for the week.
In Doha, the Qatar Exchange closed up 0.3 per cent at 9,774.98, finishing off 1.9 per cent for the week.
jeverington@thenational.ae
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