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United Arab Emirates stocks higher at close of trade; DFM General up 1.80%

Published 12/08/2016, 06:15 AM
Updated 12/08/2016, 06:15 AM
© Reuters.  United Arab Emirates stocks higher at close of trade; DFM General up 1.80%

© Reuters. United Arab Emirates stocks higher at close of trade; DFM General up 1.80%

Investing.com – United Arab Emirates stocks were higher after the close on Thursday, as gains in the Services, Telecoms and Real Estate & Construction sectors led shares higher.

At the close in Dubai, the DFM General rose 1.80% to hit a new 3-months high, while the ADX General index added 1.88%.

The best performers of the session on the DFM General were Marka Pjse (DU:MARKA), which rose 9.09% or 0.10 points to trade at 1.20 at the close. Meanwhile, Amanat Holdings PJSC (DU:AMANT) added 5.66% or 0.050 points to end at 0.933 and Union Properties PJSC (DU:UPRO) was up 4.85% or 0.050 points to 1.080 in late trade.

The worst performers of the session were Takaful Emarat PSC (DU:TKFE), which fell 2.06% or 0.050 points to trade at 2.380 at the close. Takaful House (DU:DTKF) declined 1.74% or 0.016 points to end at 0.904 and Dubai Islamic Insurance Co. (DU:AMAN) was down 1.70% or 0.009 points to 0.521.

The top performers on the ADX General were Green Crs Ins (AD:GCIC) which rose 13.46% to 0.590, Int Fish Farmi (AD:ASMK) which was up 10.39% to settle at 1.70 and Fujairah Cement Industries Co PSC (AD:FCI) which gained 9.68% to close at 1.02.

The worst performers were Ad Shipbldg Co (AD:ADSB) which was down 7.72% to 2.630 in late trade, Abu Dhabi National for Building Materials Co PJSC (AD:BILD) which lost 5.00% to settle at 0.570 and Bank Of Sharja (AD:BOS) which was down 3.65% to 1.320 at the close.

Rising stocks outnumbered declining ones on the Dubai Stock Exchange by 24 to 10 and 6 ended unchanged; on the Abu Dhabi Stock Exchange, 20 rose and 9 declined, while 5 ended unchanged.

Shares in Union Properties PJSC (DU:UPRO) rose to 52-week highs; gaining 4.85% or 0.050 to 1.080.

Crude oil for January delivery was up 1.17% or 0.58 to $50.35 a barrel. Elsewhere in commodities trading, Brent oil for delivery in February rose 1.28% or 0.68 to hit $53.68 a barrel, while the February Gold contract rose 0.07% or 0.85 to trade at $1178.35 a troy ounce.

USD/AED was unchanged 0.00% to 3.6731, while EUR/AED rose 0.38% to 3.9638.

The US Dollar Index was down 0.34% at 99.94.

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