⁍ Abu Dhabi’s stock market rose on Tuesday buoyed by gains in real estate developer Aldar Properties.
⁍ Other major Gulf markets were little changed.
– Abu Dhabi’s stock market rose on Tuesday buoyed by gains in real estate developer Aldar Properties, while other major Gulf markets were little changed. The Abu Dhabi index gained 0.5%, boosted by a 4.7% jump in Aldar, which saw its biggest intraday gain in nearly six years on Monday after announcing it will take over the management and development of government capital projects worth $8.17 billion under an agreement with state-backed ADQ. First Abu Dhabi Bank traded flat. In the previous session, the United Arab Emirates’ biggest lender reported a 19% fall in quarterly profit, dragged down by a double-digit drop in net interest income and higher impairment charges.
Source: https://www.reuters.com/article/mideast-stocks-int/middle-east-stocks-aldar-aids-abu-dhabi-index-other-gulf-markets-little-changed-idUSKBN27C121