Sunday 04 December 2022 - 1:34:23 am

UAE stocks gain on corporate earnings


ABU DHABI, 25th August, 2022 (WAM)-- UAE stock markets closed higher Thursday, driven by the realty and banking blue chips amid increased transactions that amounted to more than 18,000 worth around AED1.87 bn over 392 million shares.

Dubai General Index (DFMGI) advanced 1.19% to 3,462.659 pts as blue-chip developer Emaar properties gained 4% following a definitive agreement to sell Emaar Malls’ entire share capital in online fashion retailer Namshi to Noon for a total cash consideration of AED1.23 billion Among other stocks, Dubai Islamic Bank, Dubai Investment company and Dubai Financial Market edged higher 0.51%, 0.82% and 0.55% respectively.

Abu Dhabi index (FTFADGI) rose 0.2% to 10,021.749 pts, with conglomerate International Holding Company (IHC.AD), traded as ASMAK, closing high at AED341.600, and NBAD at AED19.920.

Among other stocks, Abu Dhabi Commercial Bank (ADCB) and ADNOC Drilling moved higher 0.33% to AED9.230 and 0.28% to AED3.640 respectively.

 

WAM/Hatem Mohamed/Tariq alfaham