Some listed UAE companies still turned in revenue and profit growth gulfnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gulfnews.com Daily Mail and Mail on Sunday newspapers.
For the week ended February 18, DFM declined 1.37 per cent and ADX lower by 0.41 per cent.
Global equities, in general, are subdued as sovereign yields climb. In the bond market, US 10-year yields have broken above March 2020 s high to touch 1.33 per cent. Nonetheless, the overall trend of equities is likely to be bullish as the rise in yields is due to high growth expectations rather than tightening monetary policy.
Among UAE equities, the top performers were Easy Lease Motors (up 16.44 per cent), Al Khaleej Investment (14.55 per cent), RAK Properties (11.32 per cent), Oman Insurance (10.26 per cent) and Al Ramz Corporation Investment (8.11 per cent).
Winners all
In the UAE s stock universe, 50 of the 126 listed stocks posted positive returns. The Top 5 performers were International Holdings Co. (up 577 per cent), Gulfa Mineral Water (304 per cent), Abu Dhabi National Energy Co. (aka TAQA, and with a gain of 206 per cent), Dubai Islamic Insurance (138 per cent) and Arkan Building Materials (110 per cent).
The relentless pace of its acquisitions supported International Holdings Co. s share rally. TAQA benefitted from its merger with Abu Dhabi Power that made it the premier utility company in the UAE. Stocks that suffered the largest declines last year were DXB Entertainments (52 per cent), Arabtec Holding (59 per cent) and Emirates REIT (69 per cent).