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Dana Gas dives on weak first-quarter performance

: Thursday, May 15 - 2014 @ 19:10

The Abu Dhabi equity market index (ADXGI) gained 0.11 per cent to hit 5,021.47 points on Thursday, May 15. There were gains, but no cheers on the first trading day that marked the UAE’s official upgrading to ‘emerging market’ status by global raing agency MSCI. Nine UAE shares entered the MSCI emerging market index from the Abu Dhabi market: Aldar Properties (which lost one per cent to close at AED4.04), First Gulf Bank (flat at AED17.15), Abu Dhabi Commercial Bank (up by 1.24 per cent to reach AED8.14) and National Bank of Abu Dhabi (gaining 0.71 per cent to reach AED14.25). Dana Gas dived 4.40 per cent to AED0.87. Earlier in the day, the Sharjah-based gas exploration firm revealed that it generated a net profit of AED164 million ($44.65m) in the first three months of 2014, when compared wuth AED241m ($65.7m) in the corresponding period last year.

Gérard Al-Fil

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Thursday, May 15- 2014 @ 19:10 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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