Financial markets up 7.87 pc in July

ABU DHABI - Indices show a rise in the UAE financial markets by 7.87 per cent in July, compared to the previous month, to close at 2,266,00 points; and the index remained high by 36.73 per cent during the year 2004.

By Ibrahim Taha

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Published: Tue 10 Aug 2004, 9:55 AM

Last updated: Thu 2 Apr 2015, 11:45 AM

The monthly publication of financial markets issued by the Abu Dhabi Securities and Commodities Authority for the month of July has stated that the sectors indices during July have shown progress especially the index of the services and industrial sectors which has grown by 11.04 per cent, followed by the Insurance Sector index by 9.22 per cent and the Banking Sector by 4.87 per cent.

Abu Dhabi stock market has recorded a rise of 9.84 per cent during the month to close at 2,226,40 points whereas Dubai Financial Market's index recorded a 6.37 per cent rise to close at 250,31 points. The volume of transactions reached during July about Dh4.94 billion registering a decline at 29.36 per cent against June 2004.

Transactions concentration was on the Services and Industry Sectors share ,where the total value of transactions during July recorded at Dh3.95 or 79.81 per cent of the total value of transactions of the financial markets. The value of 0.86 billion were transacted as follows: the Banking Sector, 17.32 per cent; the Insurance Sector, 2.88 per cent.

The total value of transactions in companies shares listed in in Abu Dhabi Stock Market reached about Dh2.19 billion recording a 159 per cent rise compared to previous month, whereas Dubai stock market recorded a decline in the value of transactions by 54 per cent compared to previous month to reach Dh2,75 billion.

On the plane of most active shares the shares of 49 companies listed in financial markets have been transacted at Dh4.94 billion, distributed among 579.72 million shares through 27,179 deals. Emaar properties share being the most active share was transacted at Dh1.61 billion distributed among 274.5 million shares through 7241 deals. Etisalat occupied second place at 4.42 million shares at Dh0.66 billion through 1882 deals.

Regarding shares with the highest prices during July, 41 companies have accomplished progress, among which AlWaha Renting Company came first followed by the National Public Insurance Company. As for shares with the lowest prices during July, 7 companies registered a decline: Emaar properties showed the most decline level by 5.74 per cent to close at Dh 5.58 per share; the National Union Bank came second by a 3.75 per cent decline to close at Dh68 per share , although the Bank had announced that it has registered an increase by 10.52 per cent in profits during the first half of current year at Dh226.37 million.

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