Reuters reports that Dubai Financial Market (DFM), the Gulf's only listed stock exchange, reported a third-quarter net profit. Higher trading values and an overall bullish investor sentiment drove the growth.
The firm, which runs securities trading in Dubai, earned a net profit of $22.5 million in the third quarter – up from a net loss of 1.7 million dirhams in the same period of 2012.
The results beat estimates by analysts at HSBC and Global Investment House.
Third-quarter revenue more than tripled to 122.2 million dirhams, and quarterly trading value jumped to 49 billion dirhams – an impressive year-on-year growth from 8.1 billion dirhams
