Dubai – Mubasher: The Dubai Financial Market General Index (DFMGI) commenced Sunday and the week in the green following gains on du, Emaar and Dubai Investments. The DFMGI gained 0.23% or 8 points to 3867 points.

Analysts told Mubasher that they expect external factors to be the main driving force for UAE stock markets in the current period, particularly after most large companies have concluded announcing their financial results.

Crude Brent was stable above $60 per barrel on Friday after news that the number of oil digging sites had declined in the US, surpassing fears of an abundance of oil supply.

du surged by 1.6% to AED 5.19 after 170,000 shares were exchanged. Emaar Properties added 0.3% to AED 7.45 million as more than one million shares changed hands.

Arabtec, DAMAC and Emaar Malls also rose by 1.3%, 1% and 0.35%, respectively. Dubai Investments also boosted the index, after gaining 0.4%.

On the other hand, Dubai Islamic Bank (DIB) cut the DFMGI’s gains, after falling by 0.6%.

Around 43 million shares changed hands through 644 transactions worth AED 62 million

The DFM had ended Thursday at near stability after succeeding in amending its direction in the last few minutes of trading, backed by improvement in the banking sector. However, it recorded weekly losses following two successive weeks of market gains.