Dubai’s stock market closed higher on Friday, fuelled by a 15% boost in Parkin Company’s shares after the Roads and Transport Authority (RTA) approved a variable parking tariff policy in Dubai, effective March 2025, while Abu Dhabi’s index continued its downward trend.
In Dubai, the main share index rose 0.5% led by a 15% surge in Parkin Company, marking its best-ever single-day rise, while its largest lender Emirates NBD was up 1.8%.
Meanwhile, Talabat Holding, one of the biggest food ordering businesses in the Middle East, is set to raise about $2 billion from the largest initial public offering in the UAE this year after its parent Delivery Hero on Friday priced the offering at the top end of the indicated range.
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The Dubai index posted a 5.5% gain in November, its best monthly performance this year after July.
Abu Dhabi’s index fell 0.3%, extending its decline to the third consecutive session. The index was dragged down by a nearly 1.5% decrease in the country’s largest lender, First Abu Dhabi Bank and a 1.8% drop in telecoms operator E&.
On a monthly basis, the Abu Dhabi index declined 1% for the second consecutive month.
----------------------------------------- ABU DHABI fell 0.3% to 9,235 points DUBAI up 0.5% to 4,847 points -----------------------------------------
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