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United Arab Emirates shares higher at close of trade; DFM General up 0.83%

Published 07-02-2018, 04:45 pm
© Reuters.  United Arab Emirates shares higher at close of trade; DFM General up 0.83%
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Investing.com – United Arab Emirates equities were higher at the close on Wednesday, as gains in the Services, Real Estate & Construction and Insurance sectors propelled shares higher.

At the close in Dubai, the DFM General gained 0.83%, while the ADX General index climbed 1.21%.

The biggest gainers of the session on the DFM General were Oman Insurance Company P.S.C. (DU:OIC), which rose 5.88% or 0.100 points to trade at 1.800 at the close. Gulf Navigation Holding PJSC (DU:GNAV) added 2.94% or 0.030 points to end at 1.050 and National Central Cooling Co. (DU:TABR) was up 2.84% or 0.050 points to 1.810 in late trade.

Biggest losers included National Cement Company P.S.C. (DU:NCC), which lost 3.51% or 0.100 points to trade at 2.750 in late trade. Arabtec Holding PJSC (DU:ARTC) declined 2.55% or 0.070 points to end at 2.670 and Dubai Financial Market PJSC (DU:DFM) shed 1.80% or 0.020 points to 1.090.

The top performers on the ADX General were Abu Dhabi National for Building Materials Co PJSC (AD:BILD) which rose 9.09% to 0.600, United Arab Bk (AD:UAB) which was up 8.09% to settle at 1.870 and Rak Ceramics (AD:RKCE) which gained 3.57% to close at 2.900.

The worst performers were Ras Al Khaimah Poultry and Feeding Co (AD:RAKP) which was down 8.82% to 3.10 in late trade, Green Crs Ins (AD:GCIC) which lost 5.48% to settle at 0.690 and Union Cement (AD:UCC) which was down 4.67% to 1.430 at the close.

Declining stocks outnumbered rising ones by 20 to 17 and 2 ended unchanged; on the Abu Dhabi, 12 rose and 9 declined, while 10 ended unchanged on the Dubai Stock Exchange.

In commodities trading, Crude oil for March delivery was down 0.41% or 0.26 to $63.13 a barrel. Meanwhile, Brent oil for delivery in April fell 0.21% or 0.14 to hit $66.72 a barrel, while the April Gold Futures contract rose 0.11% or 1.40 to trade at $1330.90 a troy ounce.

USD/AED was up 0.00% to 3.6730, while EUR/AED fell 0.32% to 4.5325.

The US Dollar Index Futures was up 0.20% at 89.70.

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