FGB and NBAD lead market rally in Abu Dhabi



Shares in Abu Dhabi closed the week in positive territory yesterday, on the back of positive results from FGB and NBAD.

Dubai and Saudi Arabian stocks also closed higher.

FGB, which reported profit rise 31 per cent during the quarter, closed up 3.2 per cent at Dh11.20. NBAD, which reported flat profits, closed 1.1 per cent higher at Dh8.60.

Etisalat shares led losses, closing 1.2 per cent lower at Dh19.35, after the telecoms operator announced a 4 per cent fall in quarterly profits on Wednesday.

The Abu Dhabi Securities Exchange General Index closed up 0.6 per cent at 4,292.50.

The Dubai Financial Market General Index opened lower but finished in positive territory, up 0.4 per cent at 3,318.39.

Emaar Properties closed up 1.9 per cent at Dh6.85, while DIB rose 0.5 per cent to Dh5.26. However, Mashreq’s shares fell to their lowest level in two years, closing 4.7 per cent lower at Dh60. This follows a 25 per cent drop in third-quarter profit earlier this week.

Tabreed closed 1.6 per cent lower at Dh1.84, after the cooling firm announced an 8 per cent increased in third-quarter profit.

In Saudi Arabia, the Tadawul recorded its seventh straight trading day of gains, closing up 0.8 per cent at 5,936.30, led by banks and petchems.

Brent crude futures held their ground after Wednesday’s falls at around US$50.2 a barrel yesterday afternoon, as fears over a production deal at next month’s Opec meeting in Vienna subsided.

In Doha, the Qatar Exchange rose marginally, thanks to gains by Industries Qatar.

jeverington@thenational.ae

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MATCH INFO

Who: UAE v USA
What: first T20 international
When: Friday, 2pm
Where: ICC Academy in Dubai

PRO BASH

Thursday’s fixtures

6pm: Hyderabad Nawabs v Pakhtoon Warriors

10pm: Lahore Sikandars v Pakhtoon Blasters

Teams

Chennai Knights, Lahore Sikandars, Pakhtoon Blasters, Abu Dhabi Stars, Abu Dhabi Dragons, Pakhtoon Warriors and Hyderabad Nawabs.

Squad rules

All teams consist of 15-player squads that include those contracted in the diamond (3), platinum (2) and gold (2) categories, plus eight free to sign team members.

Tournament rules

The matches are of 25 over-a-side with an 8-over power play in which only two fielders allowed outside the 30-yard circle. Teams play in a single round robin league followed by the semi-finals and final. The league toppers will feature in the semi-final eliminator.

The Kingfisher Secret
Anonymous, Penguin Books

Roger Federer's 2018 record

Australian Open Champion

Rotterdam Champion

Indian Wells Runner-up

Miami Second round

Stuttgart Champion

Halle Runner-up

Wimbledon Quarter-finals

Cincinnati Runner-up

US Open Fourth round

Shanghai Semi-finals

Basel Champion

Paris Masters Semi-finals