AirArabia, GNH pace Dubai index

DUBAI — Paced by Sharjah-based budget carrier, AirArabia, and Gulf Navigation Holding (GULFNAV), the Dubai main index recovered yesterday with a rise of 13.18, or 0.31 per cent, to close at 4,251.58 points. AirArabia gained 7.1 per cent to Dh1.21 while GULFNAV, the region's leading oil and chemical carrier, climbed 0.8 per cent to Dh1.26.

By A Staff Reporter

Published: Fri 3 Aug 2007, 9:53 AM

Last updated: Sat 4 Apr 2015, 9:20 PM

Abu Dhabi's general benchmark was also upbeat at the close of weekly trading with a gain of 5.35, or 0.16 per cent, to 3,451.18. The energy index advanced 1.2 per cent to 323.75, followed by banks and financial services index with an increase of 0.78 per cent to 4,841.36, and insurance index with a rise of 0.55 per cent to 2,967.33.

The Kuwaiti shareholding company, International Financial Advisers, topped the Dubai Financial Market (DFM) General Index with a jump of 14.8 per cent to Dh13.20, followed by Al Mazaya Holding Co. with an increase of 7.85 per cent to Dh7.55.

The other big gainers were Commercial Bank of Dubai, which rose 4.26 per cent to Dh8.55, and Emirates Bank International, which climbed 2.8 per cent to Dh9.25.

Shares in Abu Dhabi National Insurance Co. jumped 9.4 per cent to Dh8.75, topping the Abu Dhabi Securities Market (ADSM) Index, whose total traded shares hit 72.2 million.

Emirates Driving Co. gained 7.54 per cent to Dh3.28 while Qatar Telecom, the biggest loser on Wednesday, advanced 6 per cent to Dh232.60, and Emirates Insurance Co. increased 4.4 per cent to Dh12. Abu Dhabi National Energy Co., whose second-quarter net profit rose 43 per cent to Dh186 million, gained 3.3 per cent to Dh2.84.

Union Insurance Co. trailed all other companies with a fall of 8 per cent to Dh2.20 while Al Buhaira National Insurance Co. dropped 7.73 per cent to Dh8, and National Marine Dredging Co. slipped 4.3 per cent to Dh4.26.