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Etisalat weathers the storm at Abu Dhabi bourse

Similar to the Dubai market, the ADX General Index was hit by new global market volatility but to a lesser degree. The gauge closed off 0.96 per cent to reach 4,534.51 points on Monday, January 26, in the wake of the Greek election shock – where the extreme leftist party won – and the drop in oil prices to a new six-year low.

Similar to trading action on Sunday, market bellwether Emirates Telecommunications Corporation or Etisalat, the most valuable firm in the UAE, bucked the trend, gaining AED0.05 to reach AED11.10.

Abu Dhabi Islamic Bank dived 10 per cent to AED5.85, finishing as a top loser. On Sunday, ADIB said its net income in the fourth quarter climbed 19.3 per cent year on year, amounting to AED409.6 million ($11.6m).

 

Gérard Al-Fil