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United Arab Emirates stocks higher at close of trade; DFM General up 0.09%

Published 01/17/2017, 06:15 AM
Updated 01/17/2017, 06:15 AM
© Reuters.  United Arab Emirates stocks higher at close of trade; DFM General up 0.09%

© Reuters. United Arab Emirates stocks higher at close of trade; DFM General up 0.09%

Investing.com – United Arab Emirates stocks were higher after the close on Tuesday, as gains in the Insurance, Telecoms and Banking sectors led shares higher.

At the close in Dubai, the DFM General gained 0.09%, while the ADX General index climbed 0.21%.

The best performers of the session on the DFM General were Dubai Insurance Co PSC (DU:DINC), which rose 14.83% or 0.430 points to trade at 3.330 at the close. Meanwhile, Islamic Arab Insurance Company (DU:SALAMA) added 3.31% or 0.020 points to end at 0.625 and AJMAN BANK PJSC (DU:AJBNK) was up 2.61% or 0.040 points to 1.570 in late trade.

The worst performers of the session were Gulf Navigation Holding PJSC (DU:GNAV), which fell 2.44% or 0.040 points to trade at 1.600 at the close. National Central Cooling Co. (DU:TABR) declined 1.58% or 0.030 points to end at 1.870 and Marka Pjse (DU:MARKA) was down 1.32% or 0.02 points to 1.49.

The top performers on the ADX General were Methaq (AD:METH) which rose 4.40% to 0.950, Ad Shipbldg Co (AD:ADSB) which was up 3.33% to settle at 3.100 and Al Khazna Ins (AD:AKIC) which gained 2.33% to close at 0.440.

The worst performers were Int Fish Farmi (AD:ASMK) which was down 7.49% to 4.20 in late trade, Abu Dhabi National Hotels Co (AD:ADNH) which lost 4.46% to settle at 3.00 and Arkan Building Materials Co PJSC (AD:ARKN) which was down 1.96% to 1.0000 at the close.

Rising stocks outnumbered declining ones on the Dubai Stock Exchange by 22 to 9 and 10 ended unchanged; on the Abu Dhabi, 8 fell and 8 advanced, while 11 ended unchanged.

Shares in Dubai Insurance Co PSC (DU:DINC) rose to 5-year highs; rising 14.83% or 0.430 to 3.330.

Crude oil for February delivery was up 1.34% or 0.70 to $53.07 a barrel. Elsewhere in commodities trading, Brent oil for delivery in March rose 1.13% or 0.63 to hit $56.49 a barrel, while the February Gold contract rose 1.76% or 21.05 to trade at $1217.25 a troy ounce.

USD/AED was down 0.01% to 3.6729, while EUR/AED rose 0.87% to 3.9276.

The US Dollar Index was down 0.86% at 100.66.

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