Abu Dhabi shares experienced their highest one-day rise in four weeks, with banks propelling the index to its highest level in eight months.
The Abu Dhabi Securities Exchange General Index rose 1.04 per cent to 4,902.09, its eighth consecutive day of gains.
ADCB shares ticked up 4.01 per cent at Dh8.30, the highest one-day rise in a month, after the bank’s second-quarter profits came in ahead of analyst expectations.
Fellow banking heavyweight stocks FGB and NBAD also rose 1.64 per cent and 0.93 per cent respectively.
UNB, whose second-quarter profits came in below analyst expectations, closed down 0.7 per cent at Dh7.05.
Heavyweight banking shares also bolstered Dubai’s headline index, which closed up 0.5 per cent at 4,203.09, its first close above 4,200 since April.
Dubai Islamic Bank and Emirates NBD were among the top blue chip gainers, rising by 1.96 per cent and 0.95 per cent respectively.
The logistics provider Aramex also rose, closing up 4.69 per cent at Dh3.57 – the highest level in a month.
At the other end of the spectrum Emaar Properties fell by 0.25 per cent to Dh8.08, with Union Properties, Damac Properties and Deyaar Development all ended the day down.
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