Abu Dhabi stock hit an unprecedented high on Wednesday, as the telecoms giant’s gains continued after announcing it has obtained the necessary clearances to raise its foreign ownership limit to 49%.
In Abu Dhabi, the index rose by 0.9% thanks to a 2.6% increase in Etisalat’s share. Wael Makarem, chief market analyst at Exness, said the market is in increase thanks to positive sentiment, with expectations of new IPOs from the holding ADQ and others.
ADNOC said Drilling plans to go public on the Abu Dhabi stock exchange on Monday. Among other earnings, Dana Gas gained 5.8% after a $ 250 million Pearl Petroleum loan agreement with the United States International Development Finance Corporation to support the expansion of the gas business at the facility. Khor Mor in the Kurdistan Region in Iraq.
The Abu Dhabi market saw 5 major operations on the shares of “Alpha Abu Dhabi Holding” with 400 million shares, worth 11.47 billion dirhams, which constituted about 4% of the company’s capital, bringing liquidity daily market at 12.94 billion dirhams.
The leading Saudi index rose 0.4% for the fifth consecutive session, with Al-Rajhi Bank in increase of 1.1%.
The Kingdom has removed the United Arab Emirates, Argentina and South Africa from the list of countries that are barred from entering and allowing its citizens to return since September 8.
Tourism Co. businesses increased by 5.1%.
Dubai’s leading stock index fell 0.1%, impacted by a 1% drop in real estate developer Emaar Properties, extending the previous session’s loss.
And limiting index losses, Mashreq Bank shares rise more than 10% after announcing the opening of a representative office in Shanghai as part of a strategic plan to expand its presence. in China.
Makarem said investors are optimistic about lifting the travel ban in Saudi Arabia as the Dubai Expo approaches, which will support the long-term equity market.
The Qatar index rose 0.1%.
Outside the Gulf region, the Egyptian blue chip index rose 0.4%, with gains led by Fawry Banking Technology. Makarem claimed that the bag in Egypt has received some support since the government’s announcement of its intention to study initial offerings from public companies at the end of the year.
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