Stock markets in the UAE closed higher on Wednesday in holiday-thinned trade after the UAE central bank projected 3.9% GDP growth for 2024 and 6.2% for 2025, while Qatar was also boosted by a global rally.
MSCI's All-World index (.MIWD00000PUS), opens new tab was up 0.2% at 805.13, having traded at an all-time high of 805.43.
Dubai's main share index (.DFMGI), opens new tab edged up 0.1%, led by a 0.8% increase in blue-chip developer Emaar Properties (EMAR.DU), opens new tab and a 0.9 growth in Dubai's largest lender Emirates NBD Bank (ENBD.DU), opens new tab.
In Abu Dhabi, the benchmark index (.FTFADGI), opens new tab rose 0.4% as its top lender First Abu Dhabi Bank (FAB.AD), opens new tab gained 0.7% and Abu Dhabi Islamic Bank (ADIB.CA), opens new tab jumped 4.2%.
ADIB and DIFC innovation hub forged a strategic partnership to drive fintech growth in the region by implementing cutting-edge fintech solutions to accelerate innovation.
The benchmark stock index (.QSI), opens new tab in Qatar rose 0.2%, as almost all the sectors in the index were up.
Qatar National Bank (QNBK.QA), opens new tab, the Gulf's biggest lender, gained 0.1% while Qatar Navigation was up 5.5%.
Markets in Saudi Arabia and Egypt are closed for a long one-week holiday break.
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