DFM closes at 2009 high

10/06/2009 - Dubai Investment News
DFM closes at 2009 high

The Dubai Financial Market (DFM) closed at its highest level this year, soaring 3.6 per cent to finish at 2,077 points by the end of trading today (June 10th).

UAE property groups led the charge upwards, with a number of major names in Emirati real estate enjoying rises of up to 13 per cent.

Meanwhile, Emirates Business reports that winners outnumbered losers 21 to one during trading today.

Mohammed Yasin, Shuaa Securities chief executive, said that tomorrow's challenge will be to finish above 2,150.

"The majority of traders are looking at stocks that will move the market higher, which means high-volume stocks that have all the trader groups participating so they can exit easily if they want to," he said.

Gold also rose steadily during trading today, with the upward movement broadly attributed to a persistent weakness in the dollar, which makes the dollar an attractive hedge for foreign investors.ADNFCR-2019-ID-19212489-ADNFCR