Business | Markets
UAE markets record moderate gains
UAE markets recorded moderate gains yesterday as the leading shares reported a mixed performance.
- By Ahmed A Elewa, Senior Reporter
- Published: 00:05 February 27, 2008
Abu Dhabi: UAE markets recorded moderate gains yesterday as the leading shares reported a mixed performance.
The Emirates Securities General Index advanced 0.37 per cent to 6170.96, taking the total gains since the beginning of the year to 2.57 per cent and the market capitalisation of the listed companies to Dh847.96 billion.
In Dubai, the general index was almost flat by the close, adding a mere 0.06 per cent to its value to stand at 5,927.64. In the real estate sector, Deyaar Development dropped by 2.55 per cent to Dh2.68. Emaar Properties retreated 0.40 per cent to Dh12.60, followed by its financial arm, Amlak Fin-ance, which fell 0.81 per cent to Dh4.87.
Dubai Financial Market's (DFM) shares ended the session in the red as well, declining 1.11 per cent to Dh6.26.
The gainers included Air Arabia, which advanced 1.9 per cent to Dh2.15.
In Abu Dhabi, etisalat's dividend of 60 per cent in cash and 20 per cent in bonus shares lifted the telecom services provider 1.20 per cent to Dh25.30, and accordingly had a positive effect on the general index, which advanced 0.71 per cent to 4,840.28.
More from Markets
More from Business
Business Editor's choice
-
‘Wrong Way' Krugman
The source of our economic malfunction lies with government-mandated bank regulations
-
Greek exit could make Eurozone stronger
Departure will show limits of bailouts and allow remaining members to act much more like a unit
-
UAE upholds values of free trade
Recently released statistics confirm an established fact, namely that of the UAE embracing the free trade principle in general and imports in particular
