| 17 July, 2017

Market value of foreign shares jumps to $27billion in June 2017

Analysts attributed the rise to a significant rally in non-Arab investments.

ABU DHABI, 17th July, 2017 (WAM) -- The market capitlisation of foreign investments at UAE equity markets grew by 2.3 percent to AED99.1 billion by the end of June from AED96.9 billion in May, in a several-month high since the beginning of the year, according to industry figures.

Analysts attributed the rise to a significant rally in non-Arab investments whose market value amounted to AED68.4 billion, a growth of 3.7 percent over the May value of AED65.9 billion.

At Dubai Financial Market, the market value of non-Arab investments reached AED38.2 billion and to AED30.2 billion at Abu Dhabi Securities Exchange.

The value of shares owned by Gulf investors hit AED24.2 billion by the end of June AED13.7 billion of which at DFM and AED10.5 billion at ADX, while Arab investors-owned shares in the same month were valued at AED6.5 billion, AED2.3 billion of which at ADX and AED4.2 billion at DFM.

It's noteworthy that a large segment of banking and property shares in addition to some low-value stocks saw a bullish trend during June ratcheting up the market value gains for both foreign and local investors alike.

© Copyright Emirates News Agency (WAM) 2017.