Banking, property shares drive UAE higher

DFM (EB FILE)

Published Thursday, June 11, 2009

By Reuters

Banking and real estate stocks lead UAE bourses to close higher with National Bank of Abu Dhabi surging 7.5 per cent and Dubai's Union Properties gaining 8.7 per cent.

First Gulf Bank climbs 8.5 per cent as Abu Dhabi's bourse rises 1.02 per cent to 2,867 points.

Banks in the UAE are stable and liquidity in the financial sector is excellent, a UAE ministerial committee charged with helping the state navigate the financial crisis, said on Wednesday.

Deutsche Bank gave Union Properties and Deyaar a hold rating in a report on Wednesday. Deyaar rises 4.49 per cent.

Dubai's index advanced 1.04 per cent to 2,098 points.

Emirates NBD gains 4.8 per cent.

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The page was last updated on: 14 January 2016 22:12