The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
ABU DHABI / WAM
Continuing the profit reaping spree in Thursday’s session, UAE financial markets continued to perform favourably high, spearheaded by the leading shares which rose remarkably over the past three days, driving the general indexes of Abu Dhabi Securities Exchange and Dubai Financial Market to reach all-time-highs in more than two months.
The transactions conducted over five sessions drove the market value of trading companies shares by AED 19.8 billion, according to official statistics, ratcheting the total market value of the two markets up to around AED 842 billion at the close of today s session.
The most salient feature of the week was the launch of the new shares created following the completed merger of the National Bank of Abu Dhabi and First Gulf Bank, with the newly created share jumping by 9.8 percent to AED 11.25 over transactions worth AED 500,000.
The Abu Dhabi Securities Exchange General Index increased by 3.8 percent, closing at 4615 points, with the Dubai Financial Market General Index growing by 2.4 percent to 3566 points.