UAE stock markets surge

DUBAI — Main indices in Dubai and Abu Dhabi rose during yesterday's opening of weekly trading, with the former gaining 1 per cent to 4,437.47 points and the latter advancing 0.33 per cent to 3,556.21 points.

By A Staff Reporter

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Published: Mon 2 Jul 2007, 9:01 AM

Last updated: Sat 4 Apr 2015, 10:10 PM

Public Warehousing Co., which operates warehouses and freight management facilities on five continents, topped the Dubai Financial Market (DFM) General Index with a jump of 7.3 per cent to Dh21.45, followed by Shuaa Capital, the UAE's largest investment bank by market value, which gained 3 per cent to Dh5.18.

Commercial Bank of Dubai, which recently launched the Al Dana Wealth Management Programme targeting high net-worth individuals for innovative investment plans, advanced 2.42 per cent to Dh8.45. Gulf Navigation Holding, the region's leading marine and shipping services company, increased 2.4 per cent to Dh1.28 while Dubai Financial Market (DFM Co.), the only publicly traded stock exchange in the region, climbed 2.22 per cent to Dh3.22.

Al Mazaya Holding Co., which buys, sells and develops land in and outside Kuwait, fell 15 per cent to Dh7.65 while Oman Insurance Co. dropped 5 per cent to Dh8.55, and Arabian Scandinavian Insurance, a Dubai-based company that carries out full insurance services, slumped 4.3 per cent to Dh4.25.

Qatar Telecommunication Co. topped the Abu Dhabi Securities Market (ADSM) Index with a rise of 10 per cent to Dh250, followed by Al Wathbah National Insurance Co. and Abu Dhabi Commercial Bank with a gain of 0.2 per cent each to Dh4.50 and Dh7.25, respectively. Gulf Cement Co. and Union Insurance Co. increased 0.11 per cent each to Dh6.13 and Dh2.19, respectively.

United Arab Bank fell 0.3 per cent to Dh6.24 and International Fish Farming Co. dropped 0.2 per cent to Dh6.06.

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