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United Arab Emirates stocks higher at close of trade; DFM General up 0.32%

Published 12/29/2016, 06:15 AM
Updated 12/29/2016, 06:15 AM
© Reuters.  United Arab Emirates stocks higher at close of trade; DFM General up 0.32%

© Reuters. United Arab Emirates stocks higher at close of trade; DFM General up 0.32%

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

At the close in Dubai, the DFM General added 0.32%, while the ADX General index climbed 1.67%.

The best performers of the session on the DFM General were Takaful House (DU:DTKF), which rose 14.29% or 0.160 points to trade at 1.280 at the close. Meanwhile, Dubai Islamic Insurance Co. (DU:AMAN) added 4.65% or 0.028 points to end at 0.630 and Islamic Arab Insurance Company (DU:SALAMA) was up 2.96% or 0.015 points to 0.521 in late trade.

The worst performers of the session were Mashreqbank PSC (DU:MASB), which fell 4.62% or 3.00 points to trade at 62.00 at the close. Takaful Emarat PSC (DU:TKFE) declined 3.05% or 0.080 points to end at 2.540 and Union Properties PJSC (DU:UPRO) was down 0.88% or 0.010 points to 1.130.

The top performers on the ADX General were Gulf Cement Co (AD:GCEM) which rose 11.11% to 1.0000, Rak Cmt & Cons (AD:RAKC) which was up 10.81% to settle at 1.230 and Green Crs Ins (AD:GCIC) which gained 9.38% to close at 0.700.

The worst performers were Al Khazna Ins (AD:AKIC) which was down 2.70% to 0.360 in late trade, Rak Ceramics (AD:RKCE) which lost 2.00% to settle at 2.450 and Gulf Pharm Ind (AD:GPHI) which was down 1.36% to 2.170 at the close.

Rising stocks outnumbered declining ones on the Dubai Stock Exchange by 19 to 15 and 9 ended unchanged; on the Abu Dhabi, 20 rose and 6 declined, while 11 ended unchanged.

Shares in Takaful House (DU:DTKF) rose to 52-week highs; up 14.29% or 0.160 to 1.280.

Crude oil for February delivery was down 0.30% or 0.16 to $53.90 a barrel. Elsewhere in commodities trading, Brent oil for delivery in March rose 0.16% or 0.09 to hit $57.05 a barrel, while the February Gold contract rose 0.59% or 6.70 to trade at $1147.60 a troy ounce.

USD/AED was down 0.01% to 3.6729, while EUR/AED rose 0.56% to 3.8466.

The US Dollar Index was down 0.48% at 102.74.

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