AIRLINK 62.48 Increased By ▲ 2.05 (3.39%)
BOP 5.36 Increased By ▲ 0.01 (0.19%)
CNERGY 4.58 Decreased By ▼ -0.02 (-0.43%)
DFML 15.50 Increased By ▲ 0.66 (4.45%)
DGKC 66.40 Increased By ▲ 1.60 (2.47%)
FCCL 17.59 Increased By ▲ 0.73 (4.33%)
FFBL 27.70 Increased By ▲ 2.95 (11.92%)
FFL 9.27 Increased By ▲ 0.21 (2.32%)
GGL 10.06 Increased By ▲ 0.10 (1%)
HBL 105.70 Increased By ▲ 1.49 (1.43%)
HUBC 122.30 Increased By ▲ 4.78 (4.07%)
HUMNL 6.60 Increased By ▲ 0.06 (0.92%)
KEL 4.50 Decreased By ▼ -0.05 (-1.1%)
KOSM 4.48 Decreased By ▼ -0.09 (-1.97%)
MLCF 36.20 Increased By ▲ 0.79 (2.23%)
OGDC 122.92 Increased By ▲ 0.53 (0.43%)
PAEL 23.00 Increased By ▲ 1.09 (4.97%)
PIAA 29.34 Increased By ▲ 2.05 (7.51%)
PIBTL 5.80 Decreased By ▼ -0.14 (-2.36%)
PPL 107.50 Increased By ▲ 0.13 (0.12%)
PRL 27.25 Increased By ▲ 0.74 (2.79%)
PTC 18.07 Increased By ▲ 1.97 (12.24%)
SEARL 53.00 Decreased By ▼ -0.63 (-1.17%)
SNGP 63.21 Increased By ▲ 2.01 (3.28%)
SSGC 10.80 Increased By ▲ 0.05 (0.47%)
TELE 9.20 Increased By ▲ 0.71 (8.36%)
TPLP 11.44 Increased By ▲ 0.86 (8.13%)
TRG 70.86 Increased By ▲ 0.95 (1.36%)
UNITY 23.62 Increased By ▲ 0.11 (0.47%)
WTL 1.28 No Change ▼ 0.00 (0%)
BR100 6,944 Increased By 65.8 (0.96%)
BR30 22,827 Increased By 258.6 (1.15%)
KSE100 67,142 Increased By 594.3 (0.89%)
KSE30 22,090 Increased By 175.1 (0.8%)

Abu Dhabi’s stock market ended higher on Friday amid rising oil prices, although the Dubai index snapped two sessions of gains to finish flat.

In Abu Dhabi, equities gained 0.6%, led by a 1.4% rise in the country’s biggest lender First Abu Dhabi Bank.

Crude prices, a key catalyst for the Gulf’s financial markets, rose as much as $1 as fresh U.S. data lowered recession fears, although an upcoming speech from the U.S. Federal Reserve chairman capped further gains.

The United Arab Emirates is aligned with Saudi Arabia’s thinking on crude oil markets, Reuters reported on Friday, citing a source with knowledge of the matter.

On Monday OPEC’s de facto leader Saudi Arabia flagged the possibility of introducing production cuts to balance the oil market.

The Abu Dhabi bourse saw a positive performance with oil prices changing course, said Fadi Reyad, Market Analyst at CAPEX.com.

Most Gulf bourses in black tracking oil prices, global shares

Dubai’s main share index posted its third weekly gain of 1.3%, although it closed flat, as gains in financials were offset by declines in property shares.

Emirates NBD Bank gained 1.5%, while Emaar Properties retreated 1.8%.

The blue-chip developer on Wednesday jumped 4%, on its plans to increase the foreign ownership limit.

Shareholders are to also vote on Sept. 21 on the acquisition of certain assets of Dubai Holding for a mandatory convertible bond of 3.75 billion dirhams ($1.02 billion).

===============================

 ABU DHABI   up 0.6% to 10,079
 DUBAI       was flat at 3,463

===============================

Comments

Comments are closed.