Islamic lender Dubai Islamic Bank rose 3%. Top
lender Emirates NBD Bank gained 1.4% after reporting
120% growth in first-quarter net profit to 6.01 billion dirhams
($1.64 billion) on Thursday.
Among other shares, stock exchange operator Dubai Financial
Market finished 0.7% higher after the firm posted a 30%
year-on-year surge in first-quarter net profit to 35.6 million
dirhams ($9.70 million).
Strong earnings could help the Dubai main index extend gains
beyond current levels, said Farah Mourad, Senior Market Analyst
of XTB MENA.
However, the market could see some concerns next week with
traders monitoring important central bank meetings on the global
stage, added Farah Mourad.
In Abu Dhabi, the index settled 0.4% higher,
boosted by a 3.7% increase in investment firm Multiply Group ahead of reporting first-quarter earnings later in
the day.
Among the winners, Abu Dhabi Ports Company surged 4.3% after company's unit KEZAD Group signed lease
agreements with Al Ghurair Foods for over 1 billion dirhams
Mega Projects Across 1 Million SQM.
Abu Dhabi index and Dubai index finished the month with 3.8%
and 4.1% gains respectively
ABU DHABI up 0.4% to 9,789
DUBAI leapt 0.8% at 3,545
($1 = 3.6715 UAE dirham)
(Reporting by Mohd Edrees in Bengaluru; Editing by Janane
Venkatraman
)
By Mohd Edrees
April 28 (Reuters) - Stock markets in the United Arab
Emirates closed higher on Friday, as a slew of strong corporate
earnings lifted market sentiments despite lingering worries over
an economic slowdown.
Dubai's benchmark index advanced 0.8%, lifted by
strong gains in banking sector stocks with most sectors trading
in positive territory.
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