Stocks on the Dubai Financial Market soared 2.6 per cent in early trading to 1,416.75, while the Abu Dhabi Securities Exchange General Index rose 1.5 per cent to 2,508.72.
Trading places:Companies moving the market today
Dubai Islamic Bank Learn more
First Gulf Bank Learn more
Emaar Learn more
Dubai Financial Market Learn more
Arabtec Learn more
Local bourses have been sapped by sluggish trading activity since the start of the summer amid a darkening outlook for the world economy, with the eurozone debt crisis convincing many traders to stay on the sidelines until market conditions improve.
But volumes have surged today as stocks in property companies, including Emaar Properties, Arabtec Holding and Drake & Scull International led Dubai's market higher.
Dubai Islamic Bank's shares rose 2.5 per cent to Dh2.01 per share after reporting a 12.8 per cent rise in quarterly profits to Dh305.1m.
In Abu Dhabi, banks including National Bank of Abu Dhabi, First Gulf Bank and Abu Dhabi Commercial Bank were among the biggest movers after a string of higher than expected earnings releases.
Markets elsewhere in the Gulf made modest gains, with Qatar's QE Index rising 0.7 per cent to 8,598.51.
The Saudi Tadawul All Share Index rose 1.4 per cent to 6,235.64 yesterday, following a dismal trading session on New York on Friday.
Directed by: Craig Gillespie
Starring: Emma Stone, Emma Thompson, Joel Fry
4/5
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
MATCH INFO
Syria v Australia
2018 World Cup qualifying: Asia fourth round play-off first leg
Venue: Hang Jebat Stadium, Malayisa
Kick-off: Thursday, 4.30pm (UAE)
Watch: beIN Sports HD
* Second leg in Australia on October 10
The specs: 2018 Jaguar F-Type Convertible
Price, base / as tested: Dh283,080 / Dh318,465
Engine: 2.0-litre inline four-cylinder
Transmission: Eight-speed automatic
Power: 295hp @ 5,500rpm
Torque: 400Nm @ 1,500rpm
Fuel economy, combined: 7.2L / 100km
Company%20profile
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