x Abu Dhabi, UAEFriday 19 January 2018

Dana Gas continues rising streak on Abu Dhabi bourse

MARKETS LATEST: Dana Gas remains the darling of the Abu Dhabi bourse today as a deal with Syria continues to fuel trading.

Shares of Dana Gas rose to their highest in a month as the stock picked up where it left off last night in early trading in Abu Dhabi.

Dana Gas added 2.7 per cent to 74 fils at 11:06am in Abu Dhabi. The company was cited as having bid for rights to explore for oil in eight blocks in Syria, the nation's Deputy Oil Minister Hassan Zainab said.

Almost 22 million shares of Dana changed hands, accounting for most of the trading volume on the Abu Dhabi Securities Exchange.

The Abu Dhabi Securities Exchange General Index dipped 0.1 per cent to 2698.87.

In Dubai, property stocks led the gains made on the Dubai Financial Market General Index, which added 0.06 per cent to 1620.87.

Deyaar Development added 1.3 per cent to 30 fils a share, after the developer announced it will hand over five projects valued at Dh1.2bn in the first quarter and plans to complete all pending projects by the end of the year, in a statement to the Dubai bourse.

Emaar Properties gained 0.2 per cent to Dh3.43 a share. Arabtec Holding, Dubai's largest contractor added half a per cent to Dh1.95 a share.

Elsewhere in the region, Kuwait's index remained unchanged at 6899.70. Bahrain's measure gained 1.2 per cent to 1428.15. Oman's index added half a per cent to 6753.62. Qatar's measure gained 1.2 per cent to 8737.39. The Saudi Tadawul All Share Index remained unchanged at 6611.81.