DFM Co and Emaar pace Dubai bourse
With DFM Co. and Emaar Properties as volume pushers, Dubai's main index yesterday made a snail-pace climb of 0.02 per cent to close at 4,221.10 points while shares in Abu Dhabi dropped 0.01 per cent to 3,458.84.
The only publicly traded stock exchange in the region, DFM Co. gained 1.3 per cent to Dh3.17 while Dubai-based Emaar, one of the world's biggest real estate developers, declined 0.5 per cent to Dh10.80.
Having total traded shares valued at Dh783 million, the Dubai Financial Market (DFM) General Index had 10 listed companies advancing and another 10 declining while five were unmoved.
Islamic Arab Insurance led the gainers on DFM with a rise of 5.12 per cent to Dh3.28, followed by Commercial Bank of Dubai with a climb of 1.81 per cent to Dh8.40, and Global Investment House with a gain of 1.3 per cent to Dh11.75.
The losers were led by National Real Estate Co., which fell 15 per cent to Dh6.06 and with shares valued at Dh16,726. Kuwaiti-based Al Mazaya Holding Co. dropped 2.85 per cent to Dh8.50 while Arab Insurance Group slumped 1.42 per cent to Dh3.45.
In Abu Dhabi, the biggest loser was International Fish Farming, the UAE's premier aquaculture company whose shares fell 5 per cent to Dh5.66. United National Bank was also a big loser with a slip of 3.6 per cent to Dh6.80, and Invest Bank decreased 2.82 per cent to Dh3.10.
UAE-based United Arab Bank, whose 40 per cent stake will be bought by Commercial Bank of Qatar for Dh2.21 billion ($601 million), advanced 0.6 per cent to close at Dh7.23. Its shares surged 4.2 per cent to Dh7.49 in early trading yesterday. Source
The only publicly traded stock exchange in the region, DFM Co. gained 1.3 per cent to Dh3.17 while Dubai-based Emaar, one of the world's biggest real estate developers, declined 0.5 per cent to Dh10.80.
Having total traded shares valued at Dh783 million, the Dubai Financial Market (DFM) General Index had 10 listed companies advancing and another 10 declining while five were unmoved.
Islamic Arab Insurance led the gainers on DFM with a rise of 5.12 per cent to Dh3.28, followed by Commercial Bank of Dubai with a climb of 1.81 per cent to Dh8.40, and Global Investment House with a gain of 1.3 per cent to Dh11.75.
The losers were led by National Real Estate Co., which fell 15 per cent to Dh6.06 and with shares valued at Dh16,726. Kuwaiti-based Al Mazaya Holding Co. dropped 2.85 per cent to Dh8.50 while Arab Insurance Group slumped 1.42 per cent to Dh3.45.
In Abu Dhabi, the biggest loser was International Fish Farming, the UAE's premier aquaculture company whose shares fell 5 per cent to Dh5.66. United National Bank was also a big loser with a slip of 3.6 per cent to Dh6.80, and Invest Bank decreased 2.82 per cent to Dh3.10.
UAE-based United Arab Bank, whose 40 per cent stake will be bought by Commercial Bank of Qatar for Dh2.21 billion ($601 million), advanced 0.6 per cent to close at Dh7.23. Its shares surged 4.2 per cent to Dh7.49 in early trading yesterday. Source
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