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UAE stocks rise as oil prices see 10-month high

The Dubai index rose by…

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August 23, 2009 2:56 by



The Dubai Financial Market General Index climbed 2.5 percent on August 23, its most since August 18, and Abu Dhabi’s index added 1 percent, thanks to increasing oil prices, reports Bloomberg.  Oil prices went up by 1.9 percent to $73.89 a barrel after existing- home sales in the U.S. increased by 7 percent in July.

The shares of property developer Emaar increased 4.3 percent to AED3.15, its highest since August 16.



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1 Comment

  1. Wesam on August 24, 2009 8:08 am

    Why this market is always driven by sentiments rather thank the real performance of listed companies?
    No Matuirty

     

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