Dubai Islamic Bank lifts DFM to multi-month high

15/04/2015 22:07 AST

Positive results at Dubai Islamic Bank helped to push Dubai’s bourse over the 3,900 mark for the first time since mid-February as retail investors returned to the stock markets.

The Dubai Financial Market General Index climbed 2.95 per cent to 3,941.77 on Wednesday, its highest level for two months and just shy of its highest level of the year.

“Negative expectations for the first quarter have faded somewhat, and retail investors have rediscovered their enthusiasm after two to three months of quieter times,” said Julian Bruce, the head of institutional trading at EFG Hermes in Dubai.

“The index has pushed through the 3,900 mark, which was seen as quite a tough nut to crack in terms of resistance, and now people are looking at 4,200 levels.”

DIB was one of the main gainers of the day after beating analyst expectations with a 34 per cent rise in first quarter profits. The bank’s shares were up 5.3 per cent at Dh6.75, their highest level for five weeks.

Ggico and Salama were the other gainers, rising 9.89 and 8.26 per cent respectively.

Eshraq Properties led gains in the capital, surging by 14.44 per cent to Dh1.03, the stock’s highest level since November.

The Abu Dhabi Securities Exchange General Index closed 0.68 per cent higher at 4,622.3.

United Arab Bank rose 5.26 per cent to Dh6 following reports from Bloomberg that the bank had hired JP Morgan and HSBC for a US$300 million to $350m Tier 1 bond.


The National

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941
SAMBA 26.98 1,138,683
DARALARKAN 13.47 74,648,349

Stock Market Info

ADX 4,608.97 23.76 (0.52%)

Valuation

Market
Dividend Yield (%)
P/E
Price/BookValue

Momentum

Performance
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Index vs...
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Index Chart

Top Related Companies

Ticker Price Change
ADIB 3.91 0.02 (0.51%)
FAB 11.95 0.20 (1.70%)
ADCB 6.60 0.05 (0.76%)
CBI 0.87 0.11 (14.47%)
FGB 0.00 0.00 (0.00%)

Stock Market Info

DFM 3,091.15 -2,870.62 (-48.15%)

Valuation

Market
Dividend Yield (%)
P/E
Price/BookValue

Momentum

Performance
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Index vs...
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Index Chart

Top Related Companies

Ticker Price Change
EMIRATESNBD 10.65 0.05 (0.47%)
EIB 9.50 0.00 (0.00%)
EMAAR 5.61 -0.03 (-0.54%)
EMAARMALLS 2.16 0.00 (0.00%)
DIB 5.30 0.00 (0.00%)

Recent News

Foreign investors pile into Saudi Arabia in March amid kingdom's FTSE upgrade

05/04/2018

Foreign investors bought $1.18 billion in Middle East and North African equities in March, especially Saudi ones amid the kingdom’s upgrade to emerging market status by FTSE Russell, according to a r

The National

Muscat bourse gains lifted by activity in financial shares

05/04/2018

Buying activity in financials lifted the MSM30 Index to 4,794.61 points, up 0.41 per cent. The MSM Sharia Index closed at 676.52 points, down 0.08 per cent. Gulf Investment Services was the most acti

Times of Oman

Dubai bourse takes a hit in traded value

05/04/2018

Traded value on the Dubai Financial Market tumbled on Wednesday as global stocks declined amid an intensifying US-China trade war. In Abu Dhabi, banking shares surged ahead of first quarter results s

Gulf News

Financial blue chips drive Muscat bourse recovery

04/04/2018

Driven by financial blue chips, the MSM30 Index continued its recovery to close at 4,775.27 points, a gain of 0.53 per cent. The MSM Sharia Index ended at 677.06 points, down 0.07 per cent. HSBC Bank

Times of Oman

Emaar Properties stock hits new one-year low

04/04/2018

Emaar Properties shares extended losses for another session on Tuesday, to hit their lowest level in a year, as selling continued on the wider Dubai gauge. Emaar Properties fell to a low of Dh5.58, b

Gulf News

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap