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Economy, Markets

Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

UAE stocks gain US$3bn in Wednesday trade

The UAE financial markets on Wednesday posted gains of more than US$3bn) market cap. File pic
By TRENDS Desk
September 8, 2022 9:45 am
  • Abu Dhabi index (FTFADGI) rose 0.566 percent to 9,717.380 pts, with conglomerate International Holding Company (IHC.AD) closing high at AED 350
  • Among other stocks, the Emirates NBD and Mashreq Bank increased 1.92 percent, and 1.270 percent to AED13.250 and AED80.00 respectively

Abu Dhabi, UAE – The UAE financial markets on Wednesday posted gains of more than AED10.billion (US$3bn) in market cap driven by upbeat sentiments at the realty, banking and telecom sectors and cash inflows by institutions and individuals alike.

Abu Dhabi index (FTFADGI) rose 0.566 percent to 9,717.380 pts, with conglomerate International Holding Company (IHC.AD), traded as ASMAK, closing high at AED 350, after AED374 million of liquidity and NBAD edging 0.779 % higher to AED18.400.

Dubai General Index (DFMGI) slid 0.406% percent to 3,382.310 pts with blue-chip developer Emaar closing at AED6.010. Among other stocks, the Emirates NBD and Mashreq Bank increased 1.92 percent, and 1.270 percent to AED13.250 and AED80.00 respectively.

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