Abu Dhabi Stock Exchange sets new record

Major Gulf markets closed on a mixed note today Monday, a day after posting losses after returning from the Eid al-Adha holiday, but the Abu Dhabi index set a new record.

Usually, Gulf traders sell stocks to get cash during the holidays and are generally cautious about any development in global markets during the region’s stock market close.

In Abu Dhabi, the index rose 0.9%, setting a new record, thanks to an increase in the global holding share of 2.9% and Etisalat’s share of 1.1%. Dana Gas gained 2%, extending its gains for the second day in a row, after the energy company won an arbitration over the sale of its assets in Egypt.

The main Saudi index also rose 0.2%, with Al-Rajhi Bank gaining 0.6% and shares of Dr Sulaiman Al-Habib Medical Services adding 2.1%.

As Dubai’s main index fell 0.6%, under pressure from a 1.1% loss in Emirates NBD shares, before its board of directors meets tomorrow to discuss the financial statements of the first semester. Shares of blue chip Emaar Properties fell 1.5%.

The Qatari index fell 0.9%, affected by a 1.7% decline in the Qatar Islamic Bank and 2.5% in the Commercial Bank.

Outside the Gulf region, Egypt’s main index fell 0.5% as most stocks included in the index fell, including Commercial International Bank, which fell 1.1%.

Source: Reuters

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