Abu Dhabi and Dubai bourses end week up

The markets continued rising yesterday, with Dubai's index up by 0.7 per cent to 4,762.21 points and Abu Dhabi's by 0.5 per cent to 5,156.65 points.

Abu Dhabi saw impressive price gains, despite smaller volume, with shares of Gulf Pharmeceutical Industry (Julphar) rising by 13.1 per cent to Dh3.7 each, followed by Commercial Bank International's 9.5 per cent jump to Dh2.3 each.

It was also a good day for nautical industries. Both Asmak International Fish Farming Holding and Abu Dhabi Ship Building gained, by 9.1 per cent and 5 per cent, respectively.

The capital’s biggest loser was Ras Al Khaimah Company for White Cement & Construction, which saw shares fall by 9.8 per cent to Dh1.75 each. Also notable was Dana Gas’s loss of 3.3 per cent in value to Dh0.89 on volumes of 40 million shares. Dubai recorded more modest price rises, but share trading volumes were significant. Union Properties stock rose by 3.5 per cent, Deyaar Development by 3.3 per cent and Dubai Islamic Bank by 3.2 per cent . All three stocks helped to push the index higher.

Emirates NBD’s loss of 3.2 per cent share value rounded off a week of consecutive price drops, followed by Tabreed’s 1.9 per cent.

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