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Sharjah Islamic Bank hits limit up, Etisalat soars to 10-month high
- United Arab Emirates: Wednesday, April 24 - 2013 at 14:36
The ADX General Index surged 2.10% to reach 3,254.07 points Wednesday, representing the highest level since Nov. 5 2008. Sharjah Islamic Bank or SIB closed 14.85% higher at Dhs1.16. SIB's profit in Q1 rose insignificantly year-on-year amounting to Dhs84.8m. The total comprehensive profit surged 30% to hit Dhs73.7m. Telecom giant Etisalat saw its shares rising by 4% to close at Dhs10.45. Earlier in the day, Etisalat said it would place an offer to acquire Vivendi's 53% stake in Maroc Telecom. The North African telco firm is listed on exchanges in Casablanca and Paris (Euronext) and operates in 4 more West African states.
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Gérard Al-Fil, Financial JournalistWednesday, April 24 - 2013 at 14:36 UAE local time (GMT+4)
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