UAE stocks gain AED 3.5 billion led by First Abu Dhabi Bank

ABU DHABI, — UAE stock markets closed in green securing AED 3.5 billion in profits driven by the blue chips, specially those at the banking and real estate sectors.

First Abu Dhabi Bank’s share jumped to AED 11.20 after the General Assembly of the new banking entity created following the merger of National Bank of Abu Dhabi and First Gulf Bank has approved “First Abu Dhabi Bank” as the new name of the bank . The National Union Bank’s share reached AED 5.12 while Abu Dhabi Commercial Bank closed up at AED 7.02.

At DFM, EMAAR Properties’ share rose to AED 7.24 followed by EMAAR Malls at AED 2.67. At the banking sector, Emirates NBD rose to AED8.13 and Dubai Islamic Bank to AED 5.89.

The ADX General Index closed high at 4564 points, an increase of 0.75 percent while DFM General Index grew by 0.08 percent at 3433 points.

According to market data, a total of 3928 transactions have been conducted worth AED 462 million over 331 million shares. Out of 59 shares traded on Tuesday, April 25, 31 companies closed high, 19 down and nine companies at closed at their last traded prices.

Source: Emirates News Agency