In the first six months of 2013, the Dubai Financial Market (DFM) and Abu Dhabi’s Emirates Securities Market (ADX) advanced the most among all Arab securities exchanges.
On Sunday, the DFM General Index closed at 2,222.57 points, ending the first half-year with a year-to-date gain of 36.95 percent. The Abu Dhabi measure ADXGI finished with a year-to- date gain of 34.98 percent, settling at 3,551.24 points.
Both indices leave most Arab markets behind with distinct. Escalating geopolitical issues in the rest of the Arab world prove beneficial to the UAE stock markets performance.
The DFM and the ADX gained amid renewed investors’ confidence as the UAE, a major oil supplier, witnesses a strong economic comeback.
The International Monetary Fund expects the UAE’s GDP to grow by 3.6 percent in 2013 and 3.7 percent the year after.
Earlier this month, global index developer MSCI upgraded the UAE to Emerging Market from Frontier Market status after the UAE market regulator implemented stricter rules of transparency, an important step to attract foreign investments into the shares listed on the DFM and ADX.
