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DFM, ADX shares gain

DUBAI — A Kuwaiti warehousing and global logistics company and a provider of real estate finance in the UAE were among the big gainers yesterday on Dubai's stock benchmark index, which rose 0.7 per cent to close at 5,443.78.

Shares in Abu Dhabi also recovered from Sunday's loss, adding one per cent at 4,953.88 points. Public Warehousing Co gained 9.5 per cent to Dh19.10 on the Dubai Financial Market (DFM) General Index while Shariah-compliant mortgage provider Tamweel grew 6.3 per cent to Dh8.40. Emirates Integrated Telecommunications Co, also known as du, added 4.2 per cent to Dh5.73.

Union Properties, the Dubai-based real-estate developer that's building F1-themed parks, increased three per cent to Dh5.16. Its shares were rated "outperform" in new coverage at Credit Suisse Group.

Shares value on DFM reached Dh791.8 million, with 19 companies advancing, seven declining and six remaining unchanged. Shares value of the 43 companies traded on the Abu Dhabi Securities Exchange (ADX) General Index was almost Dh2 billion.

Oil and gas producer and distributor Dana Gas increased 2.7 per cent to Dh1.98 on ADX while Gulf Medical Projects Co was the biggest gainer with a jump of 9.8 per cent to Dh3.47.

Sharjah-based Dana Gas has discovered oil in its Komombo concession in Egypt.

National Bank of Abu Dhabi, the UAE's second-biggest bank by assets, grew 2.2 per cent to Dh21, although shares jumped 7.5 per cent to Dh22.2 during the intra-day trading. It was the bank's biggest surge in five months on speculation that it will post strong earnings.