EMAAR
Shares on the Dubai bourse resumed rally on Sunday, boosted by blue-chips stocks in Emaar, as the developer posted its H1 financials for Emaar mall group.
The Dubai benchmark stock index, DFMGI, climbed 0.61% or 30.2 points to 4991.23 points.
“Emaar served as the main boost to the index on Sunday, after the company posted a robust growth for its mall unit,” said Nedal Khouly, head of Gulf Research in Nemma Investment.
Financial statements for Emaar Malls Group (EMG) reveal a net profit of AED 617.18 million during the first half of 2014 compared to AED 498 million during the same period in 2013, recording a profit surge by nearly 24%, according to the Company’s statement on the Dubai Financial Market (DFM).
Shares in Emaar surged 2.27% to AED 11.25.
Meanwhile, Arabtec resumed its gains, climbing 3.84% in a heavy trading value and volume.
Turnover hit AED 856 million, through the trade of 273.56 million shares.