Text size:

  • Small
  • Normal
  • Large

DP World top traded stock after container volumes climb

Markets Wrap: Dubai’s DP World, the world’s biggest ports operator, jumped the most in three weeks after container volumes rose 7.5 per cent in the first half of the year.

Dubai’s DP World, the world’s biggest ports operator, jumped the most in three weeks after container volumes rose 7.5 per cent in the first half of the year.

DP World shares advanced 2.9 per cent, the biggest increase since July 23, to close at US$10.30 on the Nasdaq Dubai exchange. The operator “handled 28.2 million 20-foot equivalent units across its global portfolio of over 60 terminals”, it said in statement posted on the bourse’ website last week.

“It’s a lagged reaction to the container numbers,” said Anastasios Dalgiannakis, the head of trading at Mubasher Financial Services, based in Dubai.

“DP World was inactive immediately after the news came out but today has been a busy day for the stock.” About US$4.1 million worth of shares were traded, the highest turnover since July 9. Air Arabia rose 0.7 per cent to 65 fils after the region’s biggest budget airline reported a 31 per cent increase in second-quarter profit. Net income advanced to Dh65m, from Dh49.6m. Air Arabia’s shares have risen 11 per cent this year, compared with 15 per cent for the Dubai Financial Market General Index.

The Dubai Financial Market General Index lost 0.3 per cent to 1,554.09, while the Abu Dhabi Securities Exchange General Index gained 0.2 per cent to 2,510.87.

Elsewhere in the region: Kuwait’s measure fell 0.4 per cent to 5,708.57; Bahrain’s index was unchanged at 1,090.54; Oman’s MSM 30 Index was little changed, down 0.01 per cent, to 5,433.65 and Qatar’s QE Index added 0.1 per cent to 8,353.00.

The Saudi Tadawul All-Share Index moved up 0.25 per cent to 6,961.34.

twitter: Follow and share our breaking business news. Follow us

iPad users can read the digital edition of business section as it was printed via our e-reader app. Click here

Back to the top

More articles


Editor's Picks

 Marina Square apartments Reem Island: Q1 2% rise. Studio - Dh65-68,000. 1BR - Dh75-95,000. 2BR - Dh110-145,000. 3BR - Dh170-190,000. Q1 2013-Q1 2014 no change. Sammy Dallal / The National

In pictures: Where Abu Dhabi rents have risen and fallen, Q1 2014

Find out how rental prices in the prime locations in Abu Dhabi have altered during the first three months of the year and the current rates you will pay according to data provided by Asteco.

 A Brabus Mercedes 6x6 Sports Utility Vehicle is readied for display during Auto China 2014 in Beijing, on April 20. Adrian Bradshaw / EPA

In pictures: Auto China 2014 exhibition

Leading automakers have gathered in Beijing for the kickoff of China’s biggest car show, but lacklustre growth and environmental restrictions in the world’s largest car market have thrown uncertainty into the mix. More than 1,100 vehicles are being showcased.

 The New York Stock Exchange. Rising interest rates will shift momentum away from bonds and back towards risk assets such as stocks. Richard Drew / AP Photo

Plan ahead for rising interest rates

It is now over five years since the majory central banks slashed interest rates to record low but that is all about to change. So, how will rising interest rates affect you?

 The Wind, Energy, Technology and Environment Exhibition takes place from April 14 to April 16. Above, the Dewa showroom during last year’s Wetex. Jaime Puebla / The National

April corporate and economic calendar for the UAE and overseas

From Cityscape to Wetex to stock-market holidays to nations reporting first-quarter GDP figures, here is our helpful calendar of April's business events in the UAE and internationally.

 The Greens, villas: Q1 no change. 3BR - Dh210-250,000. 4BR - Dh210-260,000. 5BR - Dh220-300,000. Q1 2013-Q1 2014 5% rise. Pawan Singh / The National

In pictures: Where Dubai rents have risen and fallen, Q1 2014

Find out how rental prices in the prime locations in Dubai have altered during the first three months of the year and the current rates you will pay according to data provided by Asteco.

 Get the latest information on credit cards, bank accounts and loan products in the UAE. Mark Lennihan / AP Photo

Rates report: Latest on UAE loans, accounts and credit cards

Souqamal.com brings you the latest interest rates on banking products in the UAE.

Events

To add your event to The National listings, click here

Get the most from The National