United Arab Emirates shares higher at close of trade; DFM General up 1.25%

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United Arab Emirates shares higher at close of trade; DFM General up 1.25%
Credit: © Reuters.

Investing.com – United Arab Emirates equities were higher at the close on Wednesday, as gains in the Transport , Real Estate & Construction and Telecoms sectors propelled shares higher.

At the close in Dubai, the DFM General rose 1.25% to hit a new 1-month high, while the ADX General index climbed 1.79%.

The biggest gainers of the session on the DFM General were Dubai Financial Market PJSC (DU: DFM ), which rose 4.92% or 0.060 points to trade at 1.280 at the close. Arabtec Holding PJSC (DU: ARTC ) added 3.03% or 0.040 points to end at 1.360 and Emaar Properties PJSC (DU: EMAR ) was up 2.41% or 0.170 points to 7.220 in late trade.

Biggest losers included Takaful Emarat PSC (DU: TKFE ), which lost 3.57% or 0.090 points to trade at 2.430 in late trade. Marka Pjse (DU: MARKA ) declined 3.51% or 0.04 points to end at 1.10 and Dubai Islamic Insurance Co. (DU: AMAN ) shed 2.39% or 0.013 points to 0.530.

The top performers on the ADX General were Fujairah Cement Industries Co PSC (AD: FCI ) which rose 10.71% to 0.93, First Gulf Bk (AD: FGB ) which was up 5.42% to settle at 12.65 and Bank Of Sharja (AD: BOS ) which gained 4.58% to close at 1.370.

The worst performers were Dana Gas (AD: DANA ) which was down 1.75% to 0.560 in late trade, Rak Properties (AD: RPRO ) which lost 1.49% to settle at 0.660 and Methaq (AD: METH ) which was down 1.15% to 0.860 at the close.

Advancing stocks outnumbered falling ones by 23 to 11 and 6 ended unchanged; on the Abu Dhabi, 11 fell and 11 advanced, while 3 ended unchanged on the Dubai Stock Exchange.

In commodities trading, Crude oil for January delivery was up 0.08% or 0.04 to $50.97 a barrel. Meanwhile, Brent oil for delivery in February rose 0.09% or 0.05 to hit $53.98 a barrel, while the February Gold contract rose 0.25% or 2.95 to trade at $1173.05 a troy ounce.

USD/AED was down 0.00% to 3.6730, while EUR/AED fell 0.02% to 3.9361.

The US Dollar Index was up 0.08% at 100.59.

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