Mixed day for stock trades in UAE


16/02/2017 06:15 AST

UAE shares were mixed yesterday, as investors digested the large number of fourth-quarter earnings from blue chips such as Emaar, Aldar Properties and Etisalat.

Dubai shares spent much of the day in positive territory but ended the day down 0.2 per cent at 3,645.01 owing to a late drop by Emaar Properties.

The developer’s shares rose by as much as 2.2 per cent yesterday following the announcement late on Tuesday of better-than-expected profit, before tailing off to close just 0.3 per cent higher at Dh7.62.

Arabtec Holding led losses for a third straight day, closing down 5.6 per cent at Dh1.02, the stock’s lowest level in more than two years. Emirates NBD and DFM were the pick of the big-name gainers, rising 1.9 per cent and 4.1 per cent respectively.

Shares in Abu Dhabi meanwhile closed up by 0.5 per cent at 4,596.69, bolstered by banking stocks.

FGB and NBAD shares led gains in the capital, rising 2.3 per cent and 2.5 per cent. The two institutions are set to merge on April 1, with new shares in the merged entity to commence trading the following day.

Shares in Etisalat, which announced a 2 per cent increase in annual profits late on Tuesday, gained 1.1 per cent in early trading, before giving up gains to end unchanged at Dh17.90.

Aldar Properties meanwhile fell by 2.7 per cent to Dh2.49, following the developer’s warning of "headwinds" in the Abu Dhabi property market this year.

Shares in Saudi Arabia bounced back after a minor sell-off on Tuesday. The Tadawul finished 0.58 per cent higher on the back of gains in Al Rajhi Bank and Jabal Omar Development.

The National
Market News
2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | News Archive
Most Viewed Companies
Ticker Price Volume
QNBK 142.5 107,519
DAMAC 2.9 10,745,709
WAHA 1.75 159,227
BKIZ 0.08 603,308
EEC 20.95 333,420
SABIC 98.4 2,362,937
BKNZ 0.09 1,072,179
Recent News

Honeywell, Aramco sign agreement for advanced digitisation in Oil&Gas
Honeywell and Saudi Aramco have signed a memorandum of understanding (MoU) for implementing the Industrial Internet of Things (IIoT) and advanced digitisation within Saudi Aramco’s operations.
<

Saudi Arabia Signs $50 Billion Worth Of Oil Deals With The U.S.
U.S. companies signed billions of dollars worth of deals with Saudi Arabia’s oil and gas industry during President Donald Trump’s visit to the Kingdom over the weekend, boosting bilateral business ti

Oil prices rise as market expects extended production cut
Oil prices rose on Wednesday, supported by confidence that an OPEC-led output cut aimed at tightening supply would be extended to all of 2017 and the first quarter of next year.

Brent futu

Leading security firm plans Oman operations
Le Beck, which has a presence in some of the Gulf Cooperation Council (GCC) countries, is planning to begin operation in the Sultanate in coming months, a top-level official said.

In an in

National Finance to raise OMR46m to fund ‘cash buyout’ of Oman Orix
National Finance Company plans to raise OMR45.8 million by way of a rights issue and a perpetual bond issue to raise fund for its ‘cash buyout’ of the Oman Orix Leasing Company.

The Board

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Looking ahead, what change you are more likely to make in investing in your domestic stock market?