Aldar Properties jumps 9.52% on second government rescue move

29/12/2011 19:09 AST

Aldar Properties was the share of the day at the Abu Dhabi Exchange ADX. Aldar soared 9.52% to reach Dhs0.92, lifting the ADX General Index to 2,402.28 points. Yesterday evening, the government of Abu Dhabi announced to buy Aldar assets worth Dhs16.8bn ($4.57bn). It was the second time Aldar was rescued from the government, after the developer received a Dhs19.2bn cash injection in January this year. Twenty-six shares gained at the ADX, six ended even and one stock fell. Insurer Wataniya plummeted 10% to Dhs0.63. In 2011, the ADXGI lost 11.83%.


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