By: Mahmoud Gamal
Dubai-Mubasher: Union Properties’ (UP) stock saw gains in Wednesday’s early trades, following the announcement of its positive results during the second quarter of 2016.
The stock rose 1.48% to AED 0.756 by 12:00pm UAE time after generating AED 15.63 million from the exchange of 20.63 million shares. However, the real estate sector fell 0.08% to 7,061.81 points.
UP’s stock stands at good price level for purchases, capital market analyst Gamal Abdel Hamid told Mubasher, adding that it targets AED 0.78 then AED 0.80 in the coming sessions.
Translated by: Julian Nabil
