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DFM gains 1.7pc as ADSM retreats

DUBAI — The Dubai Financial Market (DFM) General Index yesterday rose 73.5 points, or 1.71 per cent, with Dh1.78 billion worth of shares changing hands. Shares in Abu Dhabi retreated with a drop of 0.1 per cent to close at 3,657.65 points.

There were no losers on DFM listed sectors, although the common staples sector was unmoved. The transportation sector jumped 3.5 per cent to 735.14 while the real estate sector gained 2.4 per cent to 9,710.62.

AirArabia and Deyaar Development, which gained 5 per cent to Dh1.46 and 1.6 per cent to Dh1.91 respectively, were DFM's trading toppers. The region's biggest budget carrier AirArabia posted Dh399 million in traded shares while Deyaar's amounted to Dh227.22 million.

Gaining 11 per cent to Dh9.99, regional property developer Al Mazaya Holding Co. led the gainers on DFM, which had 22 listed companies advancing, three declining and another three remaining unchanged.

Union Properties, one of Dubai's major real estate investors, increased 3.4 per cent to Dh3.38, property financier Tamweel advanced 3.2 per cent to Dh4.52 and Amlak Finance, an Islamic home financier, rose 3 per cent to Dh3.35.

International Investment Group, which provides asset management and financial advisory services for corporate clients and high net worth individuals, fell the hardest at 13.1 per cent to Dh5.30.

National Bank of Fujairah led the losers on Abu Dhabi Securities Market (ADSM) Index with a fall of 6.5 per cent to Dh4.35 while Aabar Petroleum Investments Co. declined 3 per cent to Dh3.75. Aabar had increased to 64 per cent from 42.5 per cent on Wednesday its stake in an offshore oil gas exploration block in the Philippines.

Oman & Emirates Investment Holding Co. jumped 10 per cent to Dh20.95 while the UAE's premier aquaculture company, International Fish Farming, climbed 7.4 per cent to Dh5.54.