Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
The UAE stock bourses reported positive trading even as the global bourses are anxiously waiting for the US consumer price index data.
Aramex, currently facing a takeover bid from the Abu Dhabi Developmental Company (ADQ), saw significant trading activity at the Dubai Financial Market (DFM) over the past two days. Its share price reached Dh2.85, just 15 fils below ADQ's offer of Dh3 per share. However, trading was halted at 12 pm on Wednesday as the company's Board of Directors (BoD) convened to deliberate on the takeover bid. The trading suspension will remain in place until the outcomes of the BoD meeting are announced.
Abu Dhabi Securities Exchange’s (ADX) general index — FADGI — was up by 0.164%, reaching 9,513.21 points. A total of 21,364 trades were recorded, involving 301 million shares with a combined value of Dh1.168 billion.
The total market capitalisation of all companies listed on the ADX reached Dh2.988 trillion, just Dh12 billion shy of Dh3 trillion milestone. Out of the 81 companies traded at the ADX, share prices of 35 companies rose, while 29 declined, and 17 remained unchanged.
Top gainers included Abu Dhabi Ship Building (+11.06%), Americana Restaurants (+5.26%), Aram Group (+3.89%) and Commercial Bank International (+2.49%), while notable losers were Gulf Cement (-3.83%), RAK Bank (-3.37%) and Hayah Insurance (-2.91%).
DFM
DFM’s general index (DFMGI) was up by 0.101% to reach 5250.86.
A total of 13,491 trades were executed at the DFM, involving 245 million shares with a combined value of Dh636 million. The prices of 20 companies rose, while 20 declined, and 11 remained unchanged.
Among the top gainers were International Financial Advisors (+7.50%), DU (+4.39%) and Takaful Emirates (+3.33%). The most notable losers included Dubai National Insurance (-9.96%), National Cement (-9.19%), DEWA (-1.40%) and BHM Capital (-1.37%).
The DFM’s rise was mainly driven by the rally in the share price of leading telecommunication company DU.
