DFM, ADSM indices gain

DUBAI — With more than Dh1.65 billion worth of shares changing hands, the Dubai Financial Market (DFM) General Index yesterday rose 16.73 points, or 0.4 per cent, to close at 4,304.95. Shares in Abu Dhabi Securities Market (ADSM) Index increased 4.1 points, or 0.11 per cent, to 3,660.42.

By A Staff Reporter

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Published: Thu 4 Oct 2007, 8:29 AM

Last updated: Sat 4 Apr 2015, 11:24 PM

Kuwait's Grand Real Estate Projects Co. topped DFM for the second straight day with a rise of 7 per cent to Dh4.60. It jumped 15 per cent to Dh4.30 on Tuesday. Arab Insurance Group and property financier Tamweel were also big gainers with a climb of 4 per cent each to Dh3.60 and Dh4.38 respectively.

The region's district cooling facilities operator, Tabreed, advanced 3.5 per cent to Dh2.68 while National Bank of Dubai, which has merged with Emirates Bank International (EBI), gained 1.11 per cent to Dh9.10.

Islamic home financier Amlak Finance was the biggest loser with a drop of 1.51 per cent to Dh3.26 while Islamic Arab Insurance slipped 1.5 per cent to Dh3.27. Amlak yesterday said its net profit rose by 98 per cent to Dh67 million on the third quarter compared to a year ago. The other big losers were Al Madina Finance and Investment, the 56th listed company on DFM, which slumped 1 per cent to Dh10.30; Dubai Investments, a group of at least 44 companies, which decreased 0.9 per cent to Dh4.47; and EBI, which slid 0.54 per cent to Dh9.20.

Union National Bank led all other ADSM listed companies with a rise of 4.4 per cent to Dh7.16, followed by Investbank with a climb of 4.2 per cent to Dh3.49 and Abu Dhabi Commercial Bank with a gain of 2.7 per cent to Dh6.84.

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