News Column

UAE markets end week up, may see cash-ins

February 13, 2014



The UAE markets closed the week in the green. Dubai Financial Market

General Index ( DFMGI) closed 1.27% higher, at 4098.67.



Wadah Al

Taha, expert, told Mubasher, that the UAE markets rise can be attributed

to abundant liquidity in addition to market optimism.



Real Estate

rose 0.28%, as Emaar added 0.12% and Arabtec 1%.



Banks advanced

1%, boosted by Emirates NBD, which added 3.2% and CBD (1.8%).



NIG

was the top advancer soaring 9.3%, while Agility was the worst performer,

diving 9%. Arabtec topped most actives by trading value of AED 434.2

million, while Gulf Finance House recorded the largest volume amounting to

88 million shares.



Al Taha adopted a positive outlook for the UAE

markets amid robust annual figures and potential real estate projects.



Abu

Dhabi's Index (ADI) ended 0.49% up, at 4892.41 pts. Al Taha stated that

the insurers' negative financial results had no impact on the market due

to a state of optimism and abundant liquidity.



A total of 270.3

million shares changed hands, at a total value of AED 825 million.

Banks closed 0.76% higher, after ADCB added 2.5%, and ADIB (2%). Meanwhile,

Real Estate drpped 1.15% as Aldar Properties declined 1.5% and Eshraq

(0.77%).



Al Taha expected the index to see limited cash-ins over

the coming week, pending the annual financial figures of Emaar Properties

and Arabtec.;

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Source: Mubasher (Saudi Arabic)


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