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Abu Dhabi market index storms to new highs
- United Arab Emirates: Wednesday, April 10 - 2013 at 15:54
Driven by gains in banks and developers, the ADX General Index closed 0.93% higher at 3,117.22 points Wednesday. The gauge is on the way to shave the old 2009-high at 3,230.44 points, in case current momentum sustains. Sharjah Islamic Bank or SIB jumped 4.17% to reach Dhs1.00. On April 9, SIB priced a highly successful $500m 5-year Islamic bond (sukuk), which is due April 2018 under its newly established $1.5bn sukuk programme. The he orderbook was over 6-times subscribed ($3.24bn). First Gulf Bank was the most liquid share (up 2.40%). Aldar Properties added 0.71%, finishing at Dhs1.42.
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Gérard Al-Fil, Financial JournalistWednesday, April 10 - 2013 at 15:54 UAE local time (GMT+4)
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