Abu Dhabi saves the day

REPORTS that Abu Dhabi will cough up a cool $US10 billion to help pay off Dubai World debt helped lift local stocks out of the red in afternoon trading, while the mining heavyweights made ground.

The S&P-ASX 200 index traded as low as 4608.7 points, down 0.1%, before closing in positive territory at 4654 points, up 0.