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Stock markets attract Dh1.4 billion in the first ‘Friday’ of 2022

Friday session was the first in the history of the markets after the entry into force of the new trading dates as of January 3, to become from Monday to Friday for a period of five hours a day

The local stock markets concluded their trading on Friday, amid a discrepancy in the performance of the main indicators, while attracting liquidity that exceeded Dh1.4 billion.

Friday session was the first in the history of the markets after the entry into force of the new trading dates as of January 3, to become from Monday to Friday for a period of five hours a day, in line with the growth phase witnessed by the markets, achieving compatibility with local and international financial institutions and enhancing the active participation of global investors.

The Dubai Financial Market ended the day’s trading at 3,219 points, up 0.74 per cent, after trading 164.9 million shares while the market value reached Dh411.78 billion, compared to Dh410.39 billion in the previous session.

The Abu Dhabi Stock Exchange closed its trading today at 8,379 points, down 0.18 per cent, after trading 172.9 million shares, with a value of more than Dh1.19 billion.

Global economic centre

The new weekly work system, which corresponds to the working days in the financial markets and global stock exchanges, enhances the position of the UAE as a global economic centre, which contributes to the further integration of the national economy with various economies and markets. Saturday and Sunday are the official holidays of each week, in addition to strengthening the UAE’s position within the indicators of global competitiveness in the economic and business sectors.

The most prominent disclosures of the week The first week of the trading of the year 2022 witnessed a number of disclosures for the listed companies, as “Alpha Abu Dhabi Holding” announced on January 3, the first trading day of 2022, its acquisition of an additional 17 per cent stake in Aldar Properties, which increases its share to 29.8 per cent and makes it One of Aldar’s largest shareholders.

The National Petroleum Construction Company, wholly owned by the National Marine Dredging Company, announced, through a disclosure on the Abu Dhabi Securities Exchange, that it had won a contract worth Dh8.2 billion, equivalent to $2.23 billion, from Saudi Aramco, noting that the contract includes two packages. From the Zulf offshore field project, it is expected that work on the project will be implemented over a period of three years.

And with the second day of trading this week, Alpha Abu Dhabi Holding Company (ADH) announced its acquisition of 25.24 per cent of Al Qudra Holding Company, through its strategic plan, with a budget of Dh8 billion, to expand in various key sectors in the country.

On January 5, Alpha Abu Dhabi Holding Company announced that it had entered into an agreement with Abu Dhabi Holding Company (ADQ) to establish the largest health service provider in the UAE through its subsidiary Pure Health.

On January 5, the National Petroleum Construction Company, wholly owned by the UAE National Marine Dredging Company, announced that it had won a contract from Saudi Aramco worth Dh8.2 billion.

According to a disclosure to “Bulldozers”, published on the Abu Dhabi Securities Exchange website, the contract includes two packages of the Zulf offshore field project, and the work is expected to be executed over a period of three years.

On January 6, the board of directors of Al Qudra Holding Company announced the opening of the door to owning ownership shares in the company for non-UAE nationals with a percentage not exceeding 30 per cent of its issued capital.

This decision came after the approval of the Ordinary General Assembly, which was held on December 12, 2021, which approved at its meeting the completion of the acquisition of Al Tamouh Investments Company with a total value of Dh2.224 billion, bringing the total capital to more than Dh5.508 billion, and thus the door for trading was opened On its shares listed on the Abu Dhabi Securities Exchange for expatriates and foreigners. After completing all procedures and obtaining the necessary approvals from the official authorities in the country. -- Wam