HONOR’s first store in the UAE opens in the Dubai Festival City Mall, providing visitors with a premium experience, exciting offers and free services
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“The economic strength of Abu Dhabi will eventually prevail and will be reflected in the Emirate’s equities market which is poised for future growth,” said Tom Healy, ADX’s Chief Executive.
“In five years, Abu Dhabi’s Gross Domestic Product (GDP) soared by 328 per cent from Dh218 billion in 2004 to Dh934 billion by the end of 2008, and such impressive growth rate reflects the accelerating economic development of Abu Dhabi,” he added.
Robust economic growth combined with relatively undervalued equities Price earnings will eventually attract more investors who seek to compensate for the losses incurred during the recent international financial crisis according to Rashed Al Baloushi, the Exchange’s Deputy Chief Executive.
In terms of market capitalisation, the market value of the listed equities increased by 16.5 per cent to Dh294.57 billion with Emirates Telecommunication Company or Etisalat maintaining its position on top of the list at Dh79 billion in market value, followed by the National Bank of Abu Dhabi and First Gulf Bank, accounting for Dh26.9 billion and Dh22 billion respectively.
The contribution of institutional investors in market transactions continued to grow, with the value of demated shares held by this investor category at Dh66.4 billion by the end of 2009, accounting for 26.6 per cent of the total value of demated shares.
The net trading position of foreigners remained positive in 2009 standing at Dh1.22 billion, with the United Kingdom maintaining its leading position, accounting for about 21 per cent of the total foreign trading at ADX.
As regards to the Gulf Cooperation Council; Qatar ranked the first with a share of 13 per cent of the total, followed by Kuwait and Saudi Arabia accounting for 13 per cent, 11 per cent and eight per cent of the total, respectively.
The real estate sector remained the most active during 2009 accounting for more than 50 per cent of the total value of traded shares during the year, followed by the energy and banking sector accounting for 19 per cent and 14.6 per cent respectively.
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