DFM surges 1.14% in year-end trade

Dubai market world?s best-performing gauge in 2013.

Dubai shares on Tuesday rose in unusual heavy year-end trading and closed the year on positive note.

The world?s best-performing gauge in 2013 rose to the highest level since October 2008. The main index climbed 1.14 per cent to 3,369.81 points, the sixth consecutive gain in last seven sessions. The market hit a fresh five-year high after taking this year?s advance to 108 per cent in 2013, the most among 93 global equity gauges tracked by Bloomberg. It was the biggest annual gains by DFM in eight years.

?The Dubai Financial Market?s main index soared more than 100 per cent, which is the third best year after 2004 and 2005,? Reda Gomma, port folio manager ? Asset Management at Mashreq, told Khaleej Times.

via Business – DFM surges 1.14% in year-end trade.