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Equities on verge of multi-year rally, says Daman Investment
July 2, 2013 3:50 by kippreport
The UAE markets are in the midst of a long-term, multi-year upward trend, according to Dubai-based Daman Investments. The company revealed at its Summer press briefing today the 2013 edition of its annual market report, which found that nine of the 11 key factors identified by Daman fall into positive territory, thereby leading it to conclude that the UAE bourses, the Dubai Financial Market (DFM) and the Abu Dhabi Securities Exchange (ADX), have an optimistic outlook.
The report looked in detail at the key sectors driving the UAE economy such as trade, tourism and transport. It also noted the strong resurgence of the Dubai Real Estate market. Additionally, it pointed out the increase in bank lending activity this year and the strong capital positions of UAE banks.