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United Arab Emirates stocks higher at close of trade; DFM General up 0.54%

Published 05/17/2017, 07:15 AM
Updated 05/17/2017, 07:15 AM
© Reuters.  United Arab Emirates stocks higher at close of trade; DFM General up 0.54%

© Reuters. United Arab Emirates stocks higher at close of trade; DFM General up 0.54%

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

At the close in Dubai, the DFM General rose 0.54%, while the ADX General index gained 0.25%.

The best performers of the session on the DFM General were Marka Pjse (DU:MARKA), which rose 3.23% or 0.02 points to trade at 0.74 at the close. Meanwhile, Damac Properties Dubai Co PSC (DU:DAMAC) added 2.50% or 0.070 points to end at 2.870 and Dubai Financial Market PJSC (DU:DFM) was up 1.79% or 0.020 points to 1.140 in late trade.

The worst performers of the session were Takaful Emarat PSC (DU:TKFE), which fell 6.44% or 0.150 points to trade at 2.180 at the close. Dubai Islamic Insurance Co. (DU:AMAN) declined 2.39% or 0.017 points to end at 0.693 and Takaful House (DU:DTKF) was down 1.89% or 0.020 points to 1.040.

The top performers on the ADX General were Gulf Medical Projects Co PSC (AD:GMPC) which rose 15.00% to 4.60, Fujairah Cement Industries Co PSC (AD:FCI) which was up 14.29% to settle at 1.040 and Ad Natl Energy (AD:TAQA) which gained 3.45% to close at 0.600.

The worst performers were Rak Cement Co (AD:RKCC) which was down 2.35% to 0.830 in late trade, Arkan Building Materials Co PJSC (AD:ARKN) which lost 1.47% to settle at 0.6700 and Waha Capital (AD:WAHA) which was down 1.12% to 1.770 at the close.

Rising stocks outnumbered declining ones on the Dubai Stock Exchange by 19 to 14 and 4 ended unchanged; on the Abu Dhabi, 9 rose and 6 declined, while 9 ended unchanged.

Shares in Gulf Medical Projects Co PSC (AD:GMPC) rose to all time highs; rising 15.00% or 0.60 to 4.60.

Crude oil for June delivery was up 0.35% or 0.17 to $48.83 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July rose 0.60% or 0.31 to hit $51.96 a barrel, while the June Gold Futures contract rose 0.77% or 9.46 to trade at $1245.86 a troy ounce.

USD/AED was up 0.01% to 3.6732, while EUR/AED rose 0.27% to 4.0808.

The US Dollar Index Futures was down 0.27% at 97.84.

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