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NBAD, Sorouh Real Estate help Abu Dhabi market to buck global downtrend
- United Arab Emirates: Monday, October 29 - 2012 at 14:09
Like in Dubai, trading remained dull at the Abu Dhabi Securities Exchange ADX as U. S. markets will remain closed Monday and possibly Tuesday due to Hurricane Sandy. The ADX General Index gained half a percentage point, closing at 2,670.93 points. "I think the impact of the hurricane will dominate everything at global markets this week," said Alastair McGaig, market analyst at IG Index, London, in an interview with Bloomberg TV. Shares of ADX heavyweights Aldar Properties (the sheikhdom's first developer), Sharjah-based Dana Gas and Abu Dhabi Commercial Bank closed unchanged. The emirate's first lender National Bank of Abu Dhabi and Sorouh Real Estate bucked the trend and were the most liquid share, closing up 2.60% and 1.53%, respectively.
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Gérard Al-Fil, Financial JournalistMonday, October 29 - 2012 at 14:09 UAE local time (GMT+4)
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