Today's Edition
ABU DHABI (AlETIHAD)
UAE stock markets gained on Thursday as investors reacted positively to a softer-than-expected US inflation report, even though the Federal Reserve lowered its forecast for interest rate hikes to just one this year.
The Abu Dhabi benchmark index, FADGI, rose 0.55% to 8,978.33 points.
Alpha Dhabi led the gainers, climbing 3.4%. Hayah Insurance surged 9.7%, Abu Dhabi National Company for Building rose 8.3%, and conglomerate International Holding Co. (IHC) added 1.2%. Gulf Cement Company, Invictus Investment Company, and Fertiglobe were among the losers in Thursday’s trading.
Dubai’s benchmark stock index, DFMGI, inched up 0.93% to 3,980 points after the previous session’s loss.
Aman Insurance was the top gainer, rising 4.1%. Emaar Properties and Dubai Islamic Bank also saw gains of 1.2% and 1.3%, respectively. However, tolls operator Salik Company slipped 1.2%, and Commercial Bank of Dubai fell 3.6%.
