Dubai-Mubasher: Dubai-listed SHUAA Capital grew 42.2% over the last three weeks since started offering liquidity services for Nasdaq Dubai’s single stock futures trades.
The stock rose 4.65% by 1:40pm UAE time to reach AED 0.922, its highest level in 22 months.
News on providing liquidity services to the new futures market was considered as a lifeline for the company’s unstable financial position, according to economic analyst Nawaf Al-Ajmi.
Al-Ajmi expected SHUAA’s new service to make it turns profitable in the first half of 2016.
The company achieved AED 50.8 million ($13.8 million) losses in the second quarter of 2016, against profits of AED 1.7 million ($462,000) in the same period of the previous year.
