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Mon 23 Feb 2009 11:12 AM

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Dubai's index posts biggest one-day gain since Nov 17

UPDATE 3: Aldar, ADCB lift Abu Dhabi to higher close as UAE markets cheer bonds news.

Shares of Aldar Properties and Abu Dhabi Commercial Bank lifted Abu Dhabi's main index ADI, following sharp gains in Dubai after the UAE central bank subscribed to $10 billion of Dubai bonds.

Aldar surged 6.03 percent and Abu Dhabi Commercial jumped 5.3 percent.

The index, down 4.83 percent to Sunday's close, jumped 1.06 percent to 2,298 points, extending gains into a fourth session.

Shares of Emaar Properties and Dubai Financial Market led Dubai's benchmark DFMGI higher. Emaar and Dubai Financial both closed limit up at about 15 percent as the index posted its biggest one-day gain since November 17, surging 7.91 percent higher to 1,652 points.


Shares of Qatar Islamic Bank lifted Doha's main index QSI for the first time in six sessions.

The index gained 2.83 percent, having shed more than 10 percent since Feb 16.

Qatar Islamic, down almost 30 percent this year, jumped 4.6 percent and Qatar Gas transport Co (Nakilat) rose 6.13 percent.


Kuwait Finance House slumped 8.93 and National Bank of Kuwait slipped three percent in Kuwait as the index KWSE closed 1.45 percent to 6,517 points.

Oman and Bahrain:

In Bahrain, BAX, the benchmark slipped 0.06 percent to 1,592 points.

Bank Muscat and National Bank of Oman (NBO) pushed Oman's main index MSI to close lower.

Bank Muscat and NBO ended 1.8 percent and 3.58 percent down respectively.

The index eased 0.2 percent to 4,860 points.

Saudi Arabia:

Shares of Samba Financial Group and SABB Bank led gains in Saudi Arabia.

Samba and SABB rose 1.22 percent and 3.39 respectively.

The index TASI gained 0.8 percent to 4,751 points.

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