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Leading UAE indices gain
DUBAI — Leading UAE bourses gained again yesterday for the second consecutive day. The Dubai Financial Market (DFM) General Index edged up 32 points to 3,864.28, an increase of nearly 0.9 per cent. The Abu Dhabi Securities Market (ADSM) advanced 0.6 per cent to 3,072.53
The DFM Company, the region's first stock exchange to sell a stake to the public, jumped 13.3 per cent to Dh2.90, the highest it has been since it started trading on March 7. This follows several days of positive news for the bourse. Yesterday was the first trading day for Gulfa Mineral Water and earlier in the week it announced that foreign investors had purchased Dh2.2 billion worth of shares in the second week of April.
Gulf Navigation Holding, the region's rapidly growing oil and chemical carrier leapt 9.7 per cent to Dh1.13. Union Properties was up 2.27 per cent to Dh3.35. The company issued a statement clarifying the entitlement date for its bonus shares.
Gulf General Investments, and investor in real estate and industrial projects, climbed 2.6 per cent to Dh6. Emaar Properties, one of the world's largest property companies, rose 0.5 per cent to Dh11.20. It released a statement about two new multi-million dirham mixed use projects it was undertaking in Egypt through its Egyptian company Emaar Misr.
On the ADSM 23 stocks advanced, 14 declined and five remained unchanged.
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