11/10/2018 08:32 AST

Dubai’s stock market rose sharply on Wednesday, helped by real estate shares, while Qatar gained on the back of its banks, even as the rest of the Middle East was largely quiet.

In Dubai, the index climbed 1.2 percent, with Emaar Properties advancing 2.5 percent to 5 dirhams and DAMAC Properties rising 3.6 percent. Arqaam Capital said in a report on Tuesday that while there were no real signs of improvement in the Dubai property market in the third quarter, earnings might be nearing the trough of their cycle. It recommended a “buy” rating for Emaar with a target price of 8.40 dirhams. Dubai Islamic Bank added 0.2 percent after its third-quarter profit rose 10.8 percent, in line with analysts’ estimates. Emirates NBD gained 2.5 percent.

The Saudi Arabian index fell 0.9 percent, weighed down by blue chips such as Al Rajhi Bank, which fell 1.9 percent, and SABIC, which dropped 1.3 percent.

But Bawan Co, which has been trading at record lows, climbed 3.5 percent after its unit signed an agreement to supply Saudi Electricity Co. with substations for SR269.8 million ($72 million). The company said the financial impact of the deal would appear in the first half of 2019.

Saudi Industrial Export jumped 10 percent after approving a capital increase through a rights offer. The rights issue will begin trading on Oct. 15. Egypt’s blue-chip index, which has fallen 15 percent since the end of August, was up 0.2 percent as Commercial International Bank rebounded 1 percent.


Arab News

Ticker Price Volume
QNBK 196.50 275,884
APPC 53.80 59,077
SALAM.DFM 0.80 1,017,286
CATERING 87.50 40,020
JARIR 151.00 88,275
SABIC 121.00 1,416,388
ENAYA 21.88 32,080

ADX 4,831.14 -30.39 (-0.63%)

Market
Dividend Yield (%)
P/E
Price/BookValue
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
Ticker Price Change
ADIB 3.95 -0.04 (-1.01%)
FAB 13.82 -0.14 (-1.01%)
ADCB 8.20 0.00 (0.00%)
CBI 0.66 0.00 (0.00%)
UNB 4.90 0.10 (2.08%)

DFM 2,556.68 -42.37 (-1.63%)

Market
Dividend Yield (%)
P/E
Price/BookValue
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
Ticker Price Change
EIB 9.99 0.00 (0.00%)
EMIRATESNBD 8.90 0.00 (0.00%)
EMAAR 4.20 -0.13 (-3.01%)
DIB 5.09 -0.10 (-1.93%)
EMAARMALLS 1.72 -0.03 (-1.72%)
Oman's share index ends marginally lower

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Oman Daily Observer

Foreigners can own, trade local bank shares in Kuwait

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Arab Times

Late buying in Emaar gives Dubai index a lift

13/12/2018

The Dubai Financial Market (DFM) general index extended gains for a second straight day, closing 1.5 per cent higher at 2,573.45 on strong buying in Emaar Properties in the last 30 minutes of trade.<

Gulf News