Shares in Dubai Financial Market Company hit Dh1.23 at the close. Jeff Topping / The National
Shares in Dubai Financial Market Company hit Dh1.23 at the close. Jeff Topping / The National

DFM Company shoots up 6%



The Dubai Financial Market (DFM) Company, whose share performance tends to mimic the Dubai equity market, jumped 6 per cent yesterday.

"The DFM [Company] is always a high-sentiment play on what's happening in Dubai stocks," said Saleem Khokhar, the head of equities at National Bank of Abu Dhabi. "In terms of fundamentals, the share price needs a bit of justification. Fair value has been reached."

Shares in DFM Company, the only publicly-listed bourse in the Arab world, hit Dh1.23 at the close.

Property companies also did well on the DFM General Index. Shares in the Dubai-based developer Emaarrose throughout the day to end the session 3.53 per cent higher at Dh3.18. "Emaar seems to be coming into its own, with its recurring revenue and growth story," said Mr Khokhar.

On the Abu Dhabi Securities Exchange (ADX) General Index, Sorouh Real Estate rose 3.48 per cent to Dh1.19. Aldar also ended the day higher by 0.85 per cent at Dh1.19.

The DFM General Index ended the day 2.37 per cent up at Dh1,693.67. The ADX General Index closed 0.14 per cent higher at 2,563.57. The Nasdaq Dubai UAE 20 Index closed up 1.9 per cent at 1,734.83.

"Higher valuations are justified in the UAE," Mr Khokhar said. "Similarly Saudi Arabia."

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The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
The specs

Engine: Dual 180kW and 300kW front and rear motors

Power: 480kW

Torque: 850Nm

Transmission: Single-speed automatic

Price: From Dh359,900 ($98,000)

On sale: Now

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
The specs: 2017 GMC Sierra 1500 Denali

Price, base / as tested Dh207,846 / Dh220,000

Engine 6.2L V8

Transmission Eight-speed automatic

Power 420hp @ 5,600rpm

Torque 624Nm @ 4,100rpm

Fuel economy, combined 13.5L / 100km