[2008-04-03]  UAE shares gain for a second consecutive day
UAE markets continued on the recovery path for the second consecutive day, adding Dh8.34 billion in capital gains, to accumulate Dh19.57 billion of gains in the past two sessions.

The Emirates Securities General Index advanced by more than one per cent to 5,844.14, lifting the total value of the listed companies to Dh813.2 billion. In Dubai, Emaar Properties maintained its uptrend, advancing 0.88 per cent to Dh11.35. Most of the leading shares, however, reported a mixed performance. Emirates NBD plunged 4.27 per cent to Dh11.20, in contrast with Tamweel, which shot up 3.92 per cent to Dh7.15.

"Investors still have mixed feelings towards the third quarters results, but the overall attitude seems more positive, a fact that is apparent from the value of traded shares, which is rising obviously in Dubai as well as in abu Dhabi," said Ahmed Abdul Rahman, head of research and financial analysis at Amanah Capital.

In Abu Dhabi, the real estate sector continued to accumulate tangible gains, especially Sorouh Real Estate, which surged by almost five per cent to Dh9.16, and Aldar Properties, which gained 1.45 per cent to close at Dh10.50.

Energy sector
The energy sector was also on the rise. Dana Gas gains of 4.7 per cent, lifting the share price up to Dh2.27. Aabar Petroleum and Abu Dhabi National Energy (Taqa) surging 3.09 and 1.26 per cent to Dh3.36 and Dh3.27 respectively.



Source: Copyright © 2001 - 2008, K. Zughaibi & B. Kabbani General Partnership.