Jan 21 (Reuters) – Stock markets in the United Arab Emirates (UAE) closed in the green on Friday, with Dubai’s index buoyed by the financial sector and Abu Dhabi’s riding on the back of telecom gains.
Analysts expect the bank to post a net profit of more than 9 billion dirhams ($2.45 billion) for 2021, up from 7 billion ($1.91 billion) dirhams a year earlier, according to Refinitiv data.
Abu Dhabi’s index (.FTFADGI) edged up 0.3 percent as gains in telecom shares helped offset a slip in financial stocks.
The Dubai index gained 0.3 percent for the week, while Abu Dhabi’s added 3.3 percent.
Markets in the UAE shifted to a new Monday-to-Friday working week from the start of the year to better align with global markets.
($1 = 3.6726 UAE dirham)