By: Mahmoud Gamal
Dubai – Mubasher: GFH Financial Group saw an active trading on the Dubai Financial Market (DFM), before the announcement of annual financials for 2016.
The stock generated AED 215.13 million from the exchange of 74.89 million shares by 11:55am UAE time, accounting for 44% of the market’s liquidity worth AED 495.07 million.
GFH went up 3.2% to AED 2.89, while the DFMGI added 0.6% or 21.33 points to reach 3,645.08 points.
The banks sector added 1.94%, backed by selective purchases of Dubai Islamic Bank’s (DIB) shares.
GFH has been attracting portfolio traders and investment funds since the end of fourth quarter of 2016, amid positive expectations that the group will distribute annual dividends, capital market analyst Zayed Al Mutawa told Mubasher.
The group made a number of acquisitions recently, in addition to attempts to purchase a stake in Bank Alkhair and Al-Saqr Cement, Al Azmi and told Mubasher. Al Mutawa added.
Translated by: Julian Nabil
