Latest news with #DFMGI
Al Etihad
a day ago
- Business
- Al Etihad
UAE stock markets see big surge after ceasefire news
24 June 2025 15:40 A. SREENIVASA REDDY (ABU DHABI)Mojo returned to the UAE stock markets on Tuesday after US President Donald Trump declared a ceasefire between Iran and Abu Dhabi Securities Exchange's general index (FADGI) surged by a substantial 2.487% to close at 9,795.30, lifting the market capitalisation to Dh3.047 trillion. This marks one of the largest single-day gains in the index in recent rally on the ADX was led by Aldar, which jumped 10%, followed by Multiply Group with a 6.5% rise, Abu Dhabi Commercial Bank with 6.3%, and Abu Dhabi Islamic Bank with 5.9%.The Dubai Financial Market also posted strong gains, with its main index (DFMGI) rising by 3.36% to reach 5,593.01 — its biggest intraday gain since mid-December. DFM's rally was primarily driven by a more than 5% surge in the share prices of blue chips such as Emaar, Salik, and Emirates NBD. Dubai Islamic Bank also advanced by 4%, contributing to the overall uptick.
Al Etihad
2 days ago
- Business
- Al Etihad
UAE markets make gains despite geopolitical tensions
23 June 2025 18:05 A. SREENIVASA REDDY (ABU DHABI)The UAE stock markets made surprising gains on the first day of trading after the US attacks on Iran's nuclear facilities. The rising geopolitical tensions and the threat to close the Strait of Hormuz did not have any dampening effect on the UAE Abu Dhabi Securities Exchange (ADX) made gains after several days of flat trading, with its general index (FADGI) rising by 0.464% to close at 9,557.58. A total of 19,289 trades were executed, involving 240 million shares with a combined value of Dh840 million. The total market capitalisation of all companies listed on the ADX stood at Dh2.984 Dhabi National Energy (TAQA) led the rally with a 2.6% gain, followed by Aldar with a nearly 1.9% rise, and Multiply Group with a 1.4% increase. Other top gainers on the ADX included E7 Warrants (+14.29%), Al Khaleej Investment (+11.90%), and Union Insurance (+8.33%). Notable decliners were Gulf Medical Projects (-4.33%), Sharjah Cement (-2.96%), and Pure Health (-2.41%). DFM The Dubai Financial Market's general index (DFMGI) rose by a fairly big 1.116% to close at 5,411.3. A total of 15,087 trades were executed on the DFM, involving 445 million shares with a combined value of Dh787 million. Share prices of 31 companies rose, 13 declined, and nine remained unchanged. Union Properties led the rally with a 4.69% rise in share price, followed by Deyaar (4.17%) and Emaar Properties (2.8%). Among the other top gainers on Monday were Ekttitab Holding (+9.58%), National Cements (+11.11%), and Ithmaar Holding (+6.70%). On the losing side, Agility fell by 9%, followed by Dubai National Insurance and Reinsurance (-8.66%), Emirates Investment Bank (-6.67%), and Al Ramz Capital (-4.17%).
Reuters
11-06-2025
- Business
- Reuters
Gulf bourses end mixed on US-China trade-talks
June 11 (Reuters) - Stock markets in the Gulf ended mixed on Wednesday as there was little progress in U.S.-China trade talks, dashing hopes it would ease long-standing tensions between the world's largest economies. Top officials of both countries said on Tuesday they agreed on a framework to get their trade truce back on track and remove China's export restrictions on rare earths, while offering little sign of a durable resolution. Saudi Arabia's benchmark index (.TASI), opens new tab - which traded after a four-session eid break - gave up early gains to finish flat. Meanwhile, the kingdom's crude oil supply to China is set to dip slightly in July, Reuters reported on Tuesday, citing trade sources, but still strong for a third straight month as the OPEC kingpin regains its market share supplying the world's top crude importer. Dubai's main share index (.DFMGI), opens new tab eased 0.1%, hovering around 17-year high, with top lender Emirates NBD ( opens new tab losing 2%. The Dubai stock market remained relatively flat, suggesting potential uncertainty as the market hovers near 17-year highs, which may prompt some investors to engage in profit-taking, said Joseph Dahrieh, Managing Principal at Tickmill. In Abu Dhabi, the index (.FTFADGI), opens new tab inched 0.1% higher, with ADNOC Gas ( opens new tab gaining 1.2%. ADNOC Gas said on Tuesday it had taken a final investment decision on the first phase of its Rich Gas Development (RGD) Project, awarding $5 billion in contracts to expand and improve efficiency at the project. The Qatari index (.QSI), opens new tab added 0.2%, with Qatar Gas Transport ( opens new tab increasing 2.8%. Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab was up 0.1%, helped by a 2% rise in Commercial International Bank ( opens new tab.
Reuters
03-06-2025
- Business
- Reuters
Dubai's stock index rises, logs second straight session of gains
June 3 (Reuters) - Most Gulf stock markets settled higher on Tuesday, with Dubai's main share index (.DFMGI), opens new tab marking a second consecutive session of gains and settling up 0.68%. "In Dubai, the market continued its upward trajectory, demonstrating healthy momentum and potential for further gains, with the financial sector significantly influencing performance, led by stocks such as Dubai Islamic Bank and Emirates NBD," said Milad Azar, market analyst at XTB MENA. "This performance is underpinned by strong fundamentals and a solid economic outlook for the year." In Abu Dhabi, the benchmark index (.FTFADGI), opens new tab finished up 0.46%, snapping two consecutive session of losses. The financial sector led gains on the Abu Dhabi stock market with Abu Dhabi Islamic Bank ( opens new tab up 2.6% and First Abu Dhabi bank up 1.53%. Oil prices - a catalyst for markets in the Gulf - edged up on Tuesday, supported by a rise in geopolitical tensions and supply concerns. Brent crude futures was up 0.7%, at $65.08 a barrel by 1154 GMT. Ukraine and Russia ramped up the ongoing war this weekend with one of the biggest drone battles of their conflict, despite peace talks in Turkey. Iran, meanwhile, was poised to reject a U.S. proposal to end a decades-old nuclear dispute. If talks fail, Iran could face continued sanctions, limiting oil supply to the country. Saudi Arabia's benchmark stock index (.TASI), opens new tab settled 0.16% lower. United Carton Industries ( opens new tab was the top loser on the index, losing 3.98%. "Sector performance was mixed. These movements suggest uncertainty at current levels, as investors await further developments, particularly upcoming US economic data releases that could influence the Saudi market. Ongoing trade tensions also continue to impact investor sentiment," said Azar. Qatar's benchmark stock index (.QSI), opens new tab settled up 1.28%, helped by a 3.44% rise in Qatar Gas Transport ( opens new tab. The index logged its highest intraday gain since April 30. Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab settled flat on Tuesday. U.S. President Donald Trump and Chinese leader Xi Jinping are set to speak this week, the White House said on Monday. This comes just days after Trump accused Beijing of violating an agreement to roll back tariffs and trade restrictions. The newly announced 50% tariffs on worldwide steel and aluminium are set to go into effect on Wednesday, June 4.
Reuters
22-05-2025
- Business
- Reuters
Saudi Arabia settles lower, worst weekly performance in over a month
May 22 (Reuters) - Saudi Arabia's main stock index closed lower on Thursday, clocking its worst weekly performance in over a month, after official reports showed that crude oil exports in March declined. The kingdom's stock index (.TASI), opens new tab shed 1.02% on Thursday, underperforming its peers in the Middle East. It was down 2.5% for the week. Official data on Wednesday showed the country's crude oil exports in March fell to 5.754 million barrels per day from 6.547 million bpd in February. Oil prices, a catalyst for stock markets in the Gulf, also dropped by more than a percent after Bloomberg reported OPEC+ was discussing a production increase for July, which raised worries that global supply could exceed demand growth. O/R Dubai's benchmark index (.DFMGI), opens new tab snapped two consecutive sessions of decline, ending 0.26% higher. UAE-based insurer Dubai Insurance ( opens new tab was the top gainer on the index, jumping 15% to a near 21-year high. The index has been bolstered by a slew of business agreements between the U.S. and UAE announced last week during President Donald Trump's Gulf Tour. Elsewhere, the main stock indices in Abu Dhabi (.FTFADGI), opens new tab and Qatar (.QSI), opens new tab ended the session flat on Thursday. Qatar's benchmark index saw its biggest weekly rise since October 2024. Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab, closed up 0.44% ahead of an expected rate cut by the country's central bank later on Thursday.
