Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
The UAE stock markets surged on Thursday after US President Donald Trump paused his decision to impose tariffs on all imports.
The Abu Dhabi Securities Exchange’s (ADX) general index (FADGI) was up by 0.652%, reaching 9,124.85 points.
A total of 30,725 trades were recorded, involving 541 million shares with a combined value of Dh1.734 billion. The total market capitalisation of all companies listed on the ADX reached Dh2.822 trillion.
ADX rally was led by gains made by premium stocks — International Holding Company (0.17%), Borogue (0.76%), ADNOC Gas (4.56%), Fertiglobe (5.26%) and Aldar (1.84%).
Top gainers in the ADX included RAK Co. for White Cement (+6.54%), AD Ports (+6.53%), Burjeel Holdings (+6.06%) and Americana Restaurants (+5.55%), while notable losers were E7W (-7.38%), Phoenix Group (-5.32%) and Hayah Insurance (-3.12%).
In a major development, Multiply Group signed a Memorandum of Understanding (MoU) with Saudi Media Company (SMC) to explore potential collaboration and mutual investment opportunities in the development of advanced advertising technology platforms.
DFM
DFM’s general index (DFMGI) was up by a big 1.659% to reach 4974.07 points.
A total of 14,640 trades were executed at the DFM, involving 321 million shares with a combined value of Dh922 million. The prices of 31 companies rose, while 13 declined, and 6 remained unchanged.
Among the top gainers were Commercial Bank of Dubai (+5.20%), Spinneys (+4.89%) and Emmar Development (+4.63%). The most notable losers included National Industries (-9.90%), Emirates Investment Bank (-9.39%), Al Ramz Investment (-9.17%) and Aramex (-4.32%).
BHM Capital Financial Services has been appointed as the liquidity provider for Alpha Data shares listed on the ADX. In a statement posted on the DFM site, BHM Capital said it will provide liquidity for Alpha Data shares by entering two-way daily quotes in compliance with the regulations set by the ADX and the UAE Securities and Commodities Authority (SCA).
In another development, Al Ansari Financial Services parent of Al Ansari Exchange, announced the successful completion of its acquisition of BFC Group Holdings, solidifying its position as the largest non-banking financial institution in the GCC region in terms of branch network.
