UAE prices boost shares

UAE prices boost shares
Published: 01 June 2004

Abu Dhabi: A surge in cement prices in the UAE sharply boosted the shares of cement firms and allied companies with increases in other share prices to lift the market to a record level. Turnover in May slipped back from a record monthly average of more than $1billion in April but dealers expect the trading value to cross the Dh20billion mark this year for the first time in the share dealing history in
the UAE. Union Cement’s share shot up by around 203 per cent while that of Gulf Cement jumped by nearly 160 per cent. The share of other cement firms also grew by up to 10 per cent.