Most Gulf markets rise on return from holiday

SHARES LATEST: Dubai is looking to extend its five-day run of rises. (Getty Images)

Stock markets in the UAE closed higher on Thursday after a 10-day holiday.

Emaar Properties led gains on Dubai's benchmark, ending 3.69 percent higher, while du surged 6.16 percent.

The index rose 0.63 percent to 1,987 points.

Abu Dhabi's index made marginal gains, closing just 0.09 percent up at 2,756 points.

Abu Dhabi National Energy Co rose 3.17 percent. It said on Wednesday it had set up a joint venture to invest in US energy firms with RBS Sempra Commodities. Abu Dhabi Commercial Bank ended 4.31 percent up.

Qatar's main index extended gains into a second day following the Eid al-Adha holiday, led by Industries Qatar, while Bahrain's benchmark inched lower.

Industries Qatar, down almost 46 percent this year, ended 4.2 percent up, while Commercial Bank of Qatar gained 2.81 percent.

The index ended 1.53 percent up at 6,260 points.

In Bahrain, Gulf Finance House, down 51 percent this year, closed 2.44 percent lower.

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READERS' COMMENTS

A quick bust
Posted by Martin B on Thursday 11 December 2008 at 11:06 UAE time

Since the stock exchange was closed there was a lot of pressure. So courses drove up to make a quick buck as you can see the volume of traded shares went up in that moment after so make the bourse come down below 2,000 very quickly.
Good news at the moment are mainly 'advertising' the bad reality follows a bit after.

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