[2008-05-13]  Dubai bourse up 1pc Discuss
UAE stocks have again become attractive after Sundays decline, with the Dubai bourse rising one per cent to close at 5,799.15 yesterday and Abu Dhabis main index adding 0.4 per cent to 5,026.57 points.

The Dubai Financial Market (DFM) General Index posted shares value of Dh1.22 billion, not far from the 50-day average of Dh1.23 billion, based on Bloomberg data. Some 228 million shares traded at the Abu Dhabi Securities Exchange (ADX) Index valued at Dh1.15 billion compared with the 50-day average of Dh907.8 million.

Islamic Arab Insurance topped DFM with a surge of 6.7 per cent to Dh3.66, followed by Aramex, the biggest courier service company in the Middle East, which advanced 2.4 per cent to Dh2.59 and National Central Cooling Co (Tabreed) with a climb of 2.3 per cent to Dh2.62.

"Prices are attractive right now," said Amro Diab, head of Gulf institutional sales at EFG-Hermes Holding SAE, in a Bloomberg report. He noted that the drop on Sunday was "unjustified, triggered by seven straight days of decline in Saudi Arabia".

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