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‘Our wise leadership is strengthening preventive health care and cooperation with all countries in this field,’ said the minister while opening the MENA Congress for Rare Diseases
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DFM, ADX hit 7- month high mark
Shares in Abu Dhabi’s two largest property companies surged on Monday ahead of their planned merger, lifting the bourse to a seven-month high, while other Gulf markets also gained.
Sorouh Real Estate jumped 5.1 per cent to Dh1.26 ($0.34) and Aldar Properties climbed 4.8 per cent to Dh1.34. On Sunday, a senior Sorouh executive said a merger agreement announcement with Aldar was expected “within a month.”
“For Aldar, breaking the 1.30 level gives it a target of Dh1.47 dirhams,” said Nabil Al Rantisi, managing director at Mena Corp. “Sorouh’s next target is Dh1.38.”
Aldar’s shares have technical support at Dh1.2, while Sorouh is supported at Dh1.17, he added. Abu Dhabi’s benchmark rose 1.1 per cent to its highest close at 2,634.92 points since March 4. Dubai’s index rose 1.9 per cent in its biggest one-day gain since July 30 at 1,608.94
Dubai property stocks also surged as positive sentiment flowed over from the neighbouring bourse. Emaar Properties climbed 3.5 per cent, builder Arabtec gained 4.8 per cent and Union Properties added 5.4 per cent. National Bank of Abu Dhabi gained 3.3 per cent and First Gulf Bank added 0.1 per cent, while Dubai’s Emirates NBD slipped one per cent. —
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