ADX: AED148 million net foreign investment in February

ABU DHABI, 13th March, 2017 (WAM) -- Abu Dhabi Securities Exchange, ADX, has announced that foreign investors’ purchases in February 2017 reached AED2.306 billion, representing 44.8 percent of total trades, whereas their sales stood at AED2.158 billion, representing 41.9 percent of total trades. In its statement, ADX added, "Subsequently, the net foreign investment in February reached AED148 million, whereas institutional investments in February have reached AED31.8 million." The general ADX index in February increased by 0.07 percent to 4552. The banking sector scored the highest growth rate at 2.49 percent, followed by services sector at 1.9 percent and insurance sector at 1.8 percent . The energy sector dropped by 13.02 percent, followed by consumer staples sector at 6.59 percent, real-estate sector by 5.13 percent, industry sector by 4.88 percent, investment and financial services sector by 2.76 percent, and telecommunication sector by 1.68 percent. The market capitalisation of companies listed in ADX dropped by 0.44 percent at AED436.465 billion compared with AED438.383 billion in January. Value of traded stocks in ADX reached AED5.147 billion compared with AED7.741 billion in January. The number of traded stocks stood at 3.046 billion shares compared with 5.823 in January. The number of deals reached 40,571 compared with 61,907 in January. The average daily volume in February reached AED257 million compared with AED352 million in January. The number of trading days stood at 20 against 22 in January. 56 companies were traded in ADX in February. Eshraq Properties shares were the most active in February with trades equivalent to AED1.532 billion, representing 30.7 percent of total trades, followed by First Gulf Bank (AED677 million or 13.6 percent), Al Dar Properties at AED522 million (10.5 percent), ASMAK at AED497 million (10 percent), Etisalat at AED415 million (8.3 percent), and around AED1.347 billion for the rest of stocks (27 percent). The real-estate sector had the lion share of trades with AED2.227 billion or 44.61 percent of total trades, followed by the banking sector with AED1.332 billion (26.7 percent), consumer staples sector with AED554 million (11.1 percent), telecommunications with AED438 million (8.78 percent), energy sector at AED172 million (3.46 percent), investment and financial services sector at AED91 million (1.83 percent), industry sector at AED88 million (1.77 percent), insurance sector at AED57 million (1.15 percent), and services sector at AED30.7 million (0.61 percent). http://wam.ae/en/details/1395302602315 Emirates Airline says no truth to reports on merger with Etihad Airways DUBAI, 12th March, 2017 (WAM) -- Emirates Airline today denied reports that it was considering a merger with Etihad Airways. "There is no truth to the report Emirates and Etihad are considering a merger or have been in talks for the same," an Emirates Airline spokesperson said in a statement. http://wam.ae/en/details/1395302602470