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Dubai / Emirates Business
Emirates Integrated Telecommunications Company’s (du) share hit the highest level in one year and a half, amid expectations the company would raise foreign ownership ceiling to be listed onthe MSCI Emerging Markets Index. The share rose 6.54%, the best performance since late June 2014 when it Jumped 7.6%.
Arqaam Capital expected du to be the next MENA nominee in the telecommunications sector to see growth in its foreign equity ownership
Trading volume reached 2.2 million shares worth AED 12 million after 63 transactions were closed.
The rise came amid a positive performance by the Dubai Financial Market’s main sectors, which pushed the benchmark index to grow 3.6% or
104 points to 2,961 points during the day’s session.