Property stocks lift Dubai index

Real estate stocks lifted Dubai's index, while profit-taking weighed on Abu Dhabi. (EB FILE)

Published Tuesday, February 17, 2009

By Reuters

Property stocks lifted Dubai's main benchmark higher on Tuesday, extending gains into a second session after a government official said the sector may receive more state help.

Profit-taking weighed on Abu Dhabi.

Arabtec finished 12.12 per cent higher after shedding more than 41 per cent this year and Union properties closed 3.13 per cent higher.

The index rose 0.25 per cent to 1,492 points.

In Abu Dhabi, the benchmark fell 0.35 percent to 2,201 points as National Bank of Abu Dhabi slipped 0.25 per cent.

Aldar Properties gained 0.90 percent.

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