The UAE’s main stock exchanges closed higher on Thursday, capping a week of gains for both bourses.
The Dubai Financial Market’s benchmark index closed up 1.7 per cent at 4,657.29, ending the week up 5.7 per cent.
Emaar Properties was the big gainer of the day, its shares rising 4.7 per cent to Dh11 each at the close, the stock’s highest level in a month.
Shares in the budget airline, Air Arabia, continued to rally in the wake of a 22 per cent rise in quarterly profits announced on Tuesday.
The airline’s shares rose 4.23 per cent on the day, closing at Dh1.48 each, 13 per cent higher than last Thursday’s close and the highest level in six months.
In the capital, the Abu Dhabi Securities Exchange benchmark index closed up at 0.2 per cent at 4,953.36 – its highest close in more than a month, and a gain of 3.4 per cent for the week.
Shares in the index heavyweight Aldar Properties finished the day up 1.5 per cent at Dh3.37 each. This was after the developer reported a 41 per cent increase in profits, ahead of analysts’ estimates.
Waha Capital was the bourse’s main gainer of the day, finishing up 4.18 per cent at Dh3.24 a share.
jeverington@thenational.ae
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