Business | Markets

UAE shares report mixed results in moderate trade

UAE markets reported a mixed performance yesterday where Dubai Financial Market's (DFM) general index retreated 0.15 per cent to 5,885.24, while Abu Dhabi's benchmark advanced 0.47 per cent to 4,820.14.

  • By Ahmed A. Elewa, Senior Reporter
  • Published: 23:29 February 24, 2008
  • Gulf News

Abu Dhabi: UAE markets reported a mixed performance yesterday where Dubai Financial Market's (DFM) general index retreated 0.15 per cent to 5,885.24, while Abu Dhabi's benchmark advanced 0.47 per cent to 4,820.14.

The value of traded shares was moderate at around Dh3 billion and the relatively high volatility subsided as markets continue to trade sideways.

In Dubai, Emaar Properties fell 0.4 per cent to Dh12.60, while DFM retreated 0.8 per cent to Dh6.19. Air Arabia was unchanged by the close. Only Deyaar managed to report substantial gains, advancing 5.12 per cent to Dh2.67.

Some tangible losses were recorded by Emirates National Bank of Dubai which dropped 1.4 per cent to Dh6.37 and du which fell to Dh6.37.

In Abu Dhabi, the real estate sector's losses were not reflected on the general index as etisalat and the National Bank of Abu Dhabi ended the session with strong gains advancing 1.21 and 1.51 per cent to Dh25.10 and Dh23.50 respectively.

Aldar Properties and Sorouh Real Estate retreated 0.84 and 0.49 per cent to Dh11.75 and Dh10.25 respectively.

Meanwhile, the Emirates Securities and Commodities Authority has approved the application submitted by Bahrain-based Al Salam Bank for registration under the Foreign Company category. This will allow the bank to list on the securities markets.

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