MIDEAST STOCKS Abu Dhabi hits record high, boosted by telco Etisalat | Reuters
Most major stock markets in the Gulf rose in early trade on Sunday, with Abu Dhabi index hitting a record high, although Qatar bucked the trend to trade lower.
In Abu Dhabi, the index (.ADI) advanced 1.7%, hitting its record high, buoyed by a 6.5% jump in Emirates Telecommunications Group (Etisalat) (ETISALAT.AD).
On Thursday, the telecoms firm reported quarterly net profit of 2.40 billion dirhams ($653.5 million), up from 2.39 billion dirhams a year earlier.
In a separate bourse filing, the firm also approved distribution of interim dividend of 40 fils per share for the first-half of 2021.
Among other gainers, First Abu Dhabi Bank (FAB.AD) gaining 0.5%, on course to extend gains from the previous session.
The United Arab Emirates' largest lender on Wednesday posted a net profit of 2.88 billion dirhams for the second-quarter, up from 2.4 billion a year earlier. read more
The bank's net impairment charges fell 36% to 677 million dirhams.
Saudi Arabia's benchmark index (.TASI) gained 0.3%, with Al Rajhi Bank (1120.SE) rising 1.4% and Sahara International Petrochemical Co (2310.SE) climbing 1.8%.
The petrochemical firm posted quarterly net profit of 829.9 million riyals ($221.3 million) compared to a loss of 99 million riyals year ago.
Dubai's main share index (.DFMGI) added 0.3%, led by a 1% increase in sharia-compliant lender Dubai Islamic Bank (DISB.DU).
On the other hand, the Dubai Financial Market (DFM.DU) retreated 3.7% after reporting a sharp fall in second-quarter net profit.
The Qatari index (.QSI) eased 0.1%, hit by a 1.2% fall in petrochemical maker Industries Qatar (IQCD.QA).
i advise anyone looking for a forex and crypto trader in terms of account mentorshp to reach out to Mrs Thomas Mary for she has really help me know the better part of trade. I have made a lot of profit with her guidiance. you can reach her on her email adress thomasmary4554@gmail.com or reach her on her whatsapp +447508347797.
ReplyDelete