UAE investor confidence index records massive gain

21/04/2010 - Dubai Investment News
UAE investor confidence index records massive gain

Posted by Bob Brunskill

The GCC Investor Sentiment Index by the investment bank SHUAA Capital has recorded a massive gain of 15.2 points, which was almost entirely driven by a growth in positive investor sentiment towards the UAE.

According to the bank, its separate UAE Investor Confidence Index recorded a significant jump of 36 points to 120.4 points following the Dubai World restructuring proposal announced last month.

This had a knock-on effect on the rest of the region, with all of SHUAA Capital's Gulf Cooperation Council (GCC) Indices now above the 100-point threshold.

Oliver Schutzmann, chief communications officer of the bank, said: "The UAE has clearly been a driver of sentiment across the region for a number of months now and March has been no exception."

In addition, Gulf News reported a forecast by the investment bank Nomura this week, which suggested that the UAE's plentiful hydrocarbon resources and successful diversification efforts mean its economy has strong medium-term prospects.