UAE Stock market recover after losses

DUBAI: The stock markets of Abu Dhabi and Dubai bounced back Sunday after heavy losses last week over Dubai’s debt woes, opening up 3.9 percent and 0.5 percent respectively and then surging even higher.

Dubai’s DFM index, which dropped 12.5 percent in two days of trading last week, was trading up 2.4 percent at 1,873.36 points half an hour after markets reopened following a three day break.

Abu Dhabi Securities Exchange strengthened by 4.4 percent to 2,686.47 points, after shedding 11.6 percent of its capitalisation last week.