US Rate Cuts Gains for UAE

Following the rate cutting action of US, several positive outlook has been recorded. In UAE alone, rate cut has positive impact on its stock as it recently gains in the UAE Indices.

In Dubai Financial Market, the top three gainers were Dubai Islamic Insurance and Reinsurance, Gulf navigation and Al Mazaya Holdings, up 5.58 per cent, 4.38 per cent and 4.35 per cent respectively.

Deyaar development had a mixed week, up 3.1 per cent over Wednesday to close at Dh2.32.

The statement of the chairman of the third biggest publicly traded company about the ongoing investigations into alleged fraud might have helped to soothe the sentiments of the investors.
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