File photo: A trader looks at the screens at Bahrain Bourse in Manama, Bahrain, February 7, 2018. REUTERS/Hamad I Mohammed
Jan 21 (Reuters) – Stock markets in the United Arab Emirates (UAE) closed in the green on Friday, with Dubai’s index buoyed by the financial sector and Abu Dhabi’s riding on the back of telecom gains.
Dubai’s main share index (.DFMGI) added 1.3%, as Emirates NBD Bank (ENBD.DU) registered its best jump since April 2020 of 6.3% ahead of its earnings results next week.
Analysts expect the bank to post a net profit of more than 9 billion dirhams ($2.45 billion) for 2021, up from 7 billion ($1.91 billion) dirhams a year earlier, according to Refinitiv data.
Abu Dhabi’s index (.FTFADGI) edged up 0.3% as gains in telecom shares helped offset a slip in financial stocks.
Telecoms operator Etisalat Group (ETISALAT.AD) rose 3.2%, while the country’s largest lender First Abu Dhabi Bank (FAB.AD) was down 1.3%.
The Dubai index gained 0.3% for the week, while Abu Dhabi’s added 3.3%.
Markets in the UAE shifted to a new Monday-to-Friday working week from the start of the year to better align with global markets.
| ABU DHABI | (.FTFADGI) rose 0.3% to 8,706 points |
| DUBAI | (.DFMGI) rose 1.3% to 3,210 points |
($1 = 3.6726 UAE dirham)Reporting by Shamsuddin Mohd in Bengaluru; Editing by Ramakrishnan M.
This article was originally published by Reuters.
In total rental activity, it comprises more than 368,500 leases registered in 2025, accounting for…
Abu Dhabi is reinforcing its position as one of the world's fastest-growing financial centres as…
Doha, Qatar, July 2026 — Doha is reinforcing its position as one of the Middle…
Keturah founder says new climate research demands rethink from region’s developers Dubai, UAE, 2nd July…
ADXinteract reveals sales climb 173% in value to AED 84.49 billion and 103% in volume…
Ras Al Khaimah is rapidly strengthening its position as one of the Middle East’s fastest-growing…