UAE: Salik drives gains at Dubai Financial Market Friday

The Dubai Financial Market (DFM) climbed higher on Friday, driven by a surge in toll operator Salik (SALIK.DU).

Abu Dhabi [UAE], January 20 (ANI/WAM): The Dubai Financial Market (DFM) climbed higher on Friday, driven by a surge in toll operator Salik (SALIK.DU). The main index (.DFMGI) rose 0.714 per cent, fueled by a 5.180 per cent jump in Salik shares after the company announced plans for two new toll gates -- Business Bay Crossing on Al Khail Road, and Al Safa South on Sheikh Zayed Road -- to optimise traffic flow and reduce congestion on key routes

Meanwhile, the Abu Dhabi index closed 0.072 per cent down, as IHC, ADNOC Drilling, ADNOC Gas and ADNOC Logistics Services fell 0.840 per cent to AED 403.6; 1.490 per cent to AED3.970; 0.920 per cent to AED3.220; and 1.450 per cent to AED4.070 respectively. Banking giants FAB and ADCB stemmed the losses with gains of 2 per cent and 1.8 per cent, respectively.

Adding to the upward momentum in Dubai, Emirates NBD Bank, the emirate's largest lender, gained 1.450 per cent after raising USD 450 million through a sale of 5-year Formosa bonds, according to an arranging bank document. (ANI/WAM)