Amanat rallies on Al Noor-Mediclinic merger


  • English
  • Arabic

Amanat rose on news of the planned merger of Al Noor Hospitals and Mediclinic International, on an otherwise lacklustre day.

Shares in Amanat, which acquired a 4.1 per cent stake in Al Noor in May, rose 1.9 per cent to 79 fils apiece, the highest close since mid-August.

Dubai shares were otherwise subdued yesterday, closing down 0.3 per cent to 3,697.68.

Emaar Properties and Emirates NBD were among the worst performing blue chip stocks, closing down 1.5 per cent and 1.1 per cent, respectively. Emaar Malls was one of the few stocks to finish in positive territory, up 0.9 per cent to Dh3.15. Gulf Navigation pared gains after a record rise on Monday, closing down 3.84 per cent at 47.6 fils.

Abu Dhabi's headline index ended 0.5 per cent lower at 4,538.46, dragged down by banking stocks. The bourse recorded its weakest volumes since June.

FGB and RAKBank closed down 1.4 per cent and 1.1 per cent, respectively, with Abu Dhabi Commercial Bank and National Bank of Abu Dhabi also ending lower.

Etisalat was one of the few bright spots in the capital, its shares closing up 0.3 per cent to Dh15.15, the stock's fifth consecutive day of gains.

Both markets are closed today for the Islamic New Year holiday.

jeverington@thenational.ae

Follow The National's Business section on Twitter