Banks and energy stocks lift Abu Dhabi market index

Shares on the Abu Dhabi Securities Exchange General Index were boosted by the performance of FGB, which rose by 1.8 per cent to Dh14.15, its highest close in more than two weeks.

The Dubai Financial Market General Index fell for the third consecutive session, closing down 0.84 per cent at 3,582.38. Duncan Chard for The National

Volumes returned to markets yesterday on the second day of trading after the Eid Al Adha holiday.

Abu Dhabi stocks rose, thanks to the performance of banking and energy companies, while Dubai's measure retreated for a third consecutive day.

Shares on the Abu Dhabi Securities Exchange General Index were boosted by the performance of FGB, the index's heaviest weighted stock, which rose by 1.8 per cent to Dh14.15, its highest close in more than two weeks.

The bank said on Sunday it would start to offer finance to UAE start-ups.

The capital’s share index ended the day up 0.4 per cent at 4,516.34.

Shares in Taqa and Dana Gas were amongst the index's best- performing shares, rising by 5.8 and 3.7 per cent, respectively.

At the other end of the spectrum, ADCB ended the day down 1.3 per cent at Dh7.50, while Aldar Properties finished 1.2 per cent lower at Dh2.3.

The Dubai Financial Market General Index fell for the third consecutive session, closing down 0.8 per cent at 3,582.38.

Emaar Malls and Emaar Properties acted as the main drag on the index, closing down by 2.5 and 1.0 per cent respectively.

Aramex, the logistics company, was the pick of a handful of risers, ending the day up 1.2 per cent at Dh3.16.

Shares in Kuwait and Oman, the only two other markets in the Arabian Gulf region to have reopened since the Eid break, ended the day down 0.7 and up 0.1 per cent, respectively.

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