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SHUAA adds as bank returns to profit, Dubai market rallies

: Sunday, February 16 - 2014 @ 15:42

The Dubai Financial General Index (DFMGI) closed 2.08 per cent higher at 4,186.67 points on Sunday February 16, amid record-high trading volumes. DFM was the most liquid share, which gained by 7.42 per cent, finishing at AED3.33. SHUAA Capital advanced by 0.84 per cent to AED1.20. Earlier in the day, the oldest investment bank in the UAE revealed that it netted in a full-year net profit of AED2.8 million in 2013, up from a loss of AED62m in the previous year. All core fee- and income-generating business divisions were profitable in 2013, according to SHUAA. Arabtec, meanwhile, fell by 0.40 per cent to AED5.00. Deyaar Development jumped by 8.13 per cent to AED1.33, after the Islamic property firm increased maximum foreign ownership to 25 per cent. Emaar declined by 0.12 per cent to AED8.45. Approximately 1.5 billion shares were traded, valued at AED3.227 billion.

Gérard Al-Fil

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Sunday, February 16- 2014 @ 15:42 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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