Dubai leads Middle East Market in to Success
Oxford Tax Solutions
24 November, 2014
Dubai experienced an increase jumping up 2.8%, the largest increase during three weeks, as Arabtec soared to 8.8%.
According to statistics, most stock markets located in the Middle East moved up. The increase was led by Dubai. When the Dubais Arabtec Holding, a leading construction company, bought stocks in a pioneering property-developing firm in Egypt indexes throughout the Middle East rose tremendously.
Dubais index rose to 2.8%, the most significant increase during the previous three weeks, as Arabtec Holding Company, increased to 8.8%.
The fact that Dubais Arabtec invested in Egypt indicates the United Arab Emirate (UAE) will to support the Egyptian economy. Moreover, Arabtec may possibly benefit from the investment by undertaking a new project for example in Egypt.
Abu Dhabis index rose by 1.1% due to the emirates Abu Dhabi Commercial Bank and Aldar Properties Company, which marked 3.8% and 5.1% respectively.
The most traded stocks in the market were attributed to Waha Capital. Last Sunday, the firm marked an increase in its index soaring to 5.5% to Dh3.08. Waha Capital ended the third quarter of 2014 with strong figures and results.
As for Qatar, its index increased by 0.7% and Saudi Arabia also marked an increase of 1.1% largely due to its banking sector. As for Egypt, the countrys index marked an increase of 0.9% while Kuwait sloped downwards by 0.7% and Omans index went up by 0.3%.
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