Real estate gains lift gloom enveloping Dubai market

source Go Wealthy

Dubai stock market jumps over 1 per cent in early trading, postulated by Dubai-based realtor, Emaar Properties, benfiting1.94 per cent. Another Dubai-based real estate giant to gain was Deyaar with 4.17 per cent.

In Abu Dhabi, the region's best-performing market this year, the benchmark rises 0.41 per cent as shares in First Gulf Bank soar 9.94 per cent.

Abu Dhabi National Energy Co fell by 0.58 per cent, firm said it had revised its 2008 earnings downward compared to previously reported figures due to falling energy prices and impairments on US and Canadian investments. Markets in the United Arab Emirates are seen edging higher, tracking a rally in Saudi Arabia in the previous session and as speculation about possible moves to stimulate the economy whets risk appetite in Dubai.