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Dubai’s Emaar Properties lifted the emirate’s bourse in early trade on Thursday after Amlak Finance, in which it has a large stake, said trading in its shares would resume next month. Other Gulf markets also edged up.
Dubai’s index added 0.5 per cent as Emaar rose 0.7 per cent after Islamic mortgage provider Amlak, whose shares have been suspended since November 2008, said it would resume trading on Dubai’s main bourse on June 2.
Emaar has a 45 per cent stake in Amlak, according to Thomson Reuters data.
Among other Dubai stocks, healthcare and education investment start-up Amanat Holdings rose 0.7 per cent after it bought a 4.14 per cent stake in London-listed Al Noor Hospitals.
Abu Dhabi’s bourse edged up 0.3 per cent as telecommunications firm Etisalat climbed 1.3 per cent.
Qatar’s bourse rose 0.2 per cent thanks to Qatar National Bank and Ezdan Holding, which were up 0.8 and 0.7 per cent, respectively.
Meanwhile, Kuwait’s market slipped 0.2 per cent and Oman lost 0.1 per cent.
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