Dubai's stock market ended the week on a positive note as investors bought popular stocks amid an extended rally that began in January.
Arabtec Holding, which was one of the contractors behind the construction of the world's tallest tower, the Burj Khalifa, rose 3 per cent to Dh2.74. The stock has surged more than 70 per cent since the start of the year.
Dubai's index closed 0.3 per cent higher at 1,486.90.
Last year was a bad year for investors, with regional stock markets buffeted by the Arab Spring unrest and Europe's debt crisis.
The Dubai Financial Market General Index lost 16.9 per cent last year, but has since risen 9.8 per cent, outperforming other Gulf bourses.
"Markets are in better shape, generally speaking," said Fadi Al Said, a senior fund manager at ING Investment Management in Dubai. "Liquidity is coming back and global markets are improving."
Aldar Properties, the developer of Yas Island and Ferrari World, jumped 3.1 per cent to 96 fils. Sorouh Real Estate, Abu Dhabi's second-biggest property developer, rose 3.3 per cent to 92 fils. Ras Al Khaimah Cement advanced 3.2 per cent to 63 fils.
The Abu Dhabi Securities Exchange General Index was little changed at 2,466.74.
Elsewhere in the region, Kuwait's bourse rose 0.2 per cent to 5,864, Bahrain's was little changed at 1,136.87. Oman's MSM 30 Index was also little changed at 5,622.18, as was Qatar's QE Index - at 8,689.83.
The Saudi Tadawul exchange was closed for the day.
halsayegh@thenational.ae
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BORDERLANDS
Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis
Director: Eli Roth
Rating: 0/5
Selected fixtures
All times UAE
Wednesday
Poland v Portugal 10.45pm
Russia v Sweden 10.45pm
Friday
Belgium v Switzerland 10.45pm
Croatia v England 10.45pm
Saturday
Netherlands v Germany 10.45pm
Rep of Ireland v Denmark 10.45pm
Sunday
Poland v Italy 10.45pm
Monday
Spain v England 10.45pm
Tuesday
France v Germany 10.45pm
Rep of Ireland v Wales 10.45pm
Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
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Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
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