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ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

Non-oil firms, banks play key role as UAE markets remain mixed

Upon listing on the Abu Dhabi bourse, ADNOC Drilling will be one of the 10 largest companies on the bourse.
    • Two oil corporations occupy two of the top five spots in the Abu Dhabi financial market

    • Banks remained in the first three positions on Dubai index in terms of market capitalization

    Hadeel Karnib

    Non-oil companies and banks headed the list of the top five firms in terms of market capitalization as Abu Dhabi and Dubai markets witnessed mixed results on Sunday, June 6, 2021.

    As Etisalat gained 0.7% and Aldar Properties rose 1.9%, the Abu Dhabi Securities Exchange (ADX) closed 0.3% higher on Sunday. Dubai Financial Market (DFM), meanwhile, fell 0.1%.

    The DFM’s performance was impacted by an 8.6% slump in Damac Properties and a 1.1% drop in Dubai’s largest lender Emirates NBD Bank. Blue-chip developer Emaar Properties gained 0.3% after reporting a 250% surge in property sales in Dubai in the first five months of 2021.

    With a market cap of $51.8 billion, Etisalat led the ADX, followed by the First Abu Dhabi Bank with a market cap of $50.1 billion and International Holdings Company PJSC with a market cap of $47.7 billion.

    Two oil corporations occupied two of the top five spots in the Abu Dhabi financial market. Abu Dhabi National Energy Company came in fourth with a market cap of $41.01 billion, while Abu Dhabi National Oil Company or ADNOC finished in fifth place with a market cap of $14.8 billion.

    The banking sector occupied the first three positions in the Dubai Financial Market by market cap. Emirates NBD Bank PJSC took first place with $23.4 billion, followed by Emirates Islamic Bank with $11.8 billion and Dubai Islamic Bank with $9.6 billion.

    Du (Emirates Integrated Telecommunications Company) was placed fourth with a market cap of $8.3 billion, while Emaar Properties was ranked fifth with a market cap of $7.8 billion.

    The performance of the real-estate sector had a negative impact on the Dubai index, which fell 0.7 percent on Sunday.