UAE stocks gain on healthy corporate earnings

Abu Dhabi: UAE stock markets closed higher Thursday, driven by real estate and banking blue chips amid increased transactions worth Dh1.87 billion.

Dubai General Index (DFMGI) advanced 1.19 per cent to 3,462.659 points as developer Emaar properties gained 4 per cent following an agreement to sell Emaar Malls’ entire share capital in online fashion retailer Namshi to Noon for Dh1.23 billion.

Among other stocks, Dubai Islamic Bank, Dubai Investment company and Dubai Financial Market edged higher 0.51 per cent, 0.82 per cent and 0.55 per cent respectively.

The Abu Dhabi index (FTFADGI) rose 0.2 per cent to 10,021.749 points, with conglomerate International Holding Company (IHC.AD), traded as ASMAK, closing high at Dh341.600, and NBAD at Dh19.920.

Among other stocks, Abu Dhabi Commercial Bank (ADCB) and ADNOC Drilling moved higher 0.33 per cent to Dh9.230 and 0.28 per cent to Dh3.640 respectively.