Fertiglobe boosts Abu Dhabi, Dubai extends gain
By Mohd Edrees
Oct 11 (Reuters) -Stock exchanges in United Arab Emirates closed higher on Friday, with Abu Dhabi boosted by a surge in Adnoc and OCI- owned fertilizer firm Fertiglobe FERTIGLB.AD, Dubai extends gains.
Abu Dhabi's benchmark index .FTFADGI rose 0.1%, bolstered by a 10.1% surge in Fertiglobe, while Abu Dhabi's richest listed firm International Holding Company IHC.AD gained 0.5%.
Abu Dhabi National Oil company (Adnoc) announced on Friday that it had received all regulatory approvals to complete acquisition of OCI's 50% + 1 share stake in Fertiglobe.
Dubai's main index .DFMGI extended gains to second session with 0.1% increase, supported by a 2.8% jump in Emirates Integrated Telecommunications DU.DU after the firm unveiled two new operating sub-brands joining DU business — DU tech and DU infra.
Among the gainers, Mashreqbank MASB.DU rose 1.3% and Dubai Taxi DTC.DU advanced 2.3%.
Abu Dhabi and Dubai index notched up 0.79% and 0.88%, respectively, on a weekly basis, according to LSEG data.
ABU DHABI | .FTFADGI up 0.1% to 9,261 points |
DUBAI | .DFMGI rose 0.1% to 4,441 points |
Reporting by Mohd Edrees in Bengaluru; Editing by Shilpi Majumdar
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
