Waha shares fail to benefit from strong first-quarter report
Outdoor temperatures in the UAE rose sharply on Tuesday, so did stock prices. The Abu Dhabi exchange index ADXGI added 0.56 per cent to hit 5,035.19 points on Tuesday, May 13. Union Cement gained the most, finishing 14.39 per cent higher at AED1.51.
Aviation and maritime leasing specialist Waha Capital slipped 0.30 per cent to AED3.29. In the first three months of this year, Waha (Arabic for Oasis) generated a net income of AED152 million (U$41.45m), representing half of the full-year net profit from 2013.