Emaar continues rebound but Dubai, regional markets mostly move little

23/02/2018 06:48 AST

Dubai blue chip Emaar Properties continued to rebound in heavy trade on Thursday but regional stock markets were mostly lacklustre, partly because of weak global bourses and oil prices.

Emaar, which had been trading near 14-month lows, surged 3.2 percent on Wednesday as some funds returned to the stock, apparently attracted by undemanding valuations compared to emerging market peers.

On Thursday the stock climbed a further 1.8 percent in its heaviest volume this year. However, this failed to lift Dubai’s stock index, which was flat as declining issues outnumbered gainers by 20 to nine.

Saudi Arabia’s index edged up 0.3 percent. Al Jazira Bank closed 0.5 percent lower after the securities regulator approved its request to conduct a 3 billion riyal ($800 million) rights issue.

Saudi Industrial Export Co, which had soared 77 percent in highly speculative trade over the past six days, fell back 10 percent in its heaviest volume since 2013.

In Qatar, the index dropped 0.3 percent as Qatar Islamic Bank went ex-dividend, tumbling 4.1 percent. But Commercial Bank jumped 5.8 percent. Sources told Reuters on Tuesday that the bank had agreed in principle to sell its 40 percent stake in Abu Dhabi-listed United Arab Bank to United Arab Emirates-based Tabarak Investment.

The sale will be finalized shortly with a formal announcement to be made next month, the sources said, declining to be named as the matter is not yet public.


Arab News

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941

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 -9.24 (-0.30%)

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