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Etisalat, Dana Gas in the spotlight at Abu Dhabi market

: Wednesday, August 06 - 2014 @ 17:41

The Abu Dhabi stock market index ADXGI fell for the fourth session straight on Wednesday, August 6, closing 0.94 per cent lower at 4,916.23 points

Market bellwether Etisalat, the most valuable company in the UAE, lost 0.43 per cent to reach AED11.40. Commenting on media reports regarding a planned going public of its subsidiary Etisalat Misr, Etisalat said no decision had been taken yet to launch IPO. “The subject is still under review the board at Etisalat Misr and it is subject to approval by the shareholders, including Etisalat.”

Dana Gas plummeted 2.82 per cent to AED0.69. Earlier in the day, Dana said its net income in the first six months amounted AED333m ($91m), down from AED342m ($93m). The net profit for the second quarter climbed 69 per cent year-on-year, reaching AED169m ($49m).

Approximately 62 million shares were traded, valued at AED202m.

Gérard Al-Fil

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Wednesday, August 6- 2014 @ 17:41 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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