ICEC

Dubai Bourse Ends Flat; Tuesday

The Dubai Financial Market (DFM) General Index ended roller coaster Tuesday flat at 1,649.14 points.

While market heavyweights Arabtec Construction (up 2.44%) and DFM (0.88% higher), the only listed Arab bourse, rebounded, bellwether Emaar Properties slipped 0.32%.

Positive news from Dubai’s state-owned developer Nakheel, which reported a 33% profit increase for 2011, and from Saudi petrochem giant Sabic, which reported earlier today a 39% quarter-on-quarter profit jump, helped the DFM to end a three-day long index decline.

The slight rebound at European markets on early Tuesday also improved the sentiment.

According to AMEinfo, the twelve shares advanced, 16 declined and two securities finished flat. Trading turnover remained muted, as 134 million stocks were traded, valued at Dhs 202 million ($ 55.22 million).

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