Mideast Stocks: Dubai stocks log third weekly gain as UAE's shares end higher
21/06/2024 13:54
By Md Manzer Hussain
June 21 (Reuters) - Stock markets in the United Arab
Emirates ended higher on Friday, supported by a broad-based
gains, with the Dubai index posting its third weekly gain.
Dubai's benchmark stock index .DFMGI rebounded after the
previous session of losses to end 0.6% higher, with almost all
of its constituents posting gains.
Emirates Central Cooling Systems EMPOWER.DU advanced 2.7%
and the blue-chip developer Emaar Properties EMAR.DU and its
unit Emaar Development EMAARDEV.DU gained 0.9% and 2.2%
respectively.
For the week, the index was up for a third week in a row.
The Abu Dhabi benchmark index .FTFADGI gained 0.7%,
snapping its previous session of losses. For the week, the index
was up 0.9%.
Investment company Q Holding QHOLDING.AD rose 1.4% and its
owner International Holding Co IHC.AD climbed 2.3%, the
highest intraday gain in nearly six months.
The conglomerate IHC shareholders approved a share buyback
programme of up to 5 billion dirhams on Thursday.
ABU DHABI .FTFADGI gained 0.7% to 9,013
DUBAI .DFMGI was up 0.6% to 4,012
(Reporting by Md Manzer Hussain; Editing by Alex Richardson)
((MdManzer.Hussain@thomsonreuters.com;))